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Productive Labour, Price/Value Ratio and Rate of Surplus Value: Theoretical Viewpoints and Empirical Evidence

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  • Gouverneur, Jacques

Abstract

Productive labor is defined in the sense of indirect social labor, which includes circulation and supervisory labor as well. The calculation of the macroeconomic price/value ratio provides an easy method to arrive at theoretically correct estimates of the rate of surplus labor at macro or micro levels and to study the evolution of total labor productivity (here in the wage-good sector). The level and general tendencies of the macroeconomic rate of surplus value appear to be fairly similar in EEC countries over the period 1970-86, while productivity increases are much more important in the latter. Copyright 1990 by Oxford University Press.

Suggested Citation

  • Gouverneur, Jacques, 1990. "Productive Labour, Price/Value Ratio and Rate of Surplus Value: Theoretical Viewpoints and Empirical Evidence," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 14(1), pages 1-27, March.
    • Handle: RePEc:oup:cambje:v:14:y:1990:i:1:p:1-27
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    Cited by:

    1. Juan Carlos Cuestas & Bruce Philp, 2012. "Economic class and the distribution of income: a time-series analysis of the UK economy, 1955--2010," International Review of Applied Economics, Taylor & Francis Journals, vol. 26(5), pages 565-578, October.
    2. Dong‐Min Rieu, 2008. "Estimating Sectoral Rates Of Surplus Value: Methodological Issues," Metroeconomica, Wiley Blackwell, vol. 59(4), pages 557-573, November.
    3. Sergio Cámara Izquierdo, 2003. "La rentabilidad del capital en España," Revista de Economía Crítica, Asociación de Economía Crítica, vol. 1, pages 201-228.
    4. Juan Carlos Cuestas & Bruce Philp, 2010. "Exploitation and the class struggle," NBS Discussion Papers in Economics 2010/2, Economics, Nottingham Business School, Nottingham Trent University.

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