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A Quantitative Analysis of the Relationship Between the Rate of Growth of Productivity And the average wage

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  • Feng Li-tien
  • Wen Chien

Abstract

The relationship between the rate of growth of productivity and the average wage is an important one that reflects the interdependence of production and consumption in the process of social reproduction on an expanding scale. Under socialism, a correct understanding of this relationship not only has economic meaning in proportionately raising the rate of growth of the national product, but it also has political meaning in properly handling the internal contradictions among the people. The purpose of this paper, however, is not to study the overall relationship, but to focus on such factors as the quantitative relationships between the rate of growth of productivity and the average wage â in particular, the ratio between accumulation and consumption, the ratio between the two large departments of production, and the increase in labor productivity. Comrades, your comments and criticism are welcome.

Suggested Citation

  • Feng Li-tien & Wen Chien, 1969. "A Quantitative Analysis of the Relationship Between the Rate of Growth of Productivity And the average wage," Chinese Economy, Taylor & Francis Journals, vol. 3(1), pages 70-91, October.
    • Handle: RePEc:mes:chinec:v:3:y:1969:i:1:p:70-91
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