Wages Paid in Value in Self-Replacing Economies

Alberto Benitez, Alejandro Benitez

Abstract


In this paper, we study the relation between income distribution and prices in economies in a self-replacing state, defined by Sraffa, when wages are paid entirey in value. As a result of our analysis, it is possible to build a model that combines some distinctive features of the different forms of payment considered by this author, facilitates the study of wages as an independent variable and offers an original formalization of the production of commodities by means of commodities. Moreover, the model helps to highlight and explain one particular effect on prices due to wages paid in value.

Keywords


Sraffa; wages; prices; value and real magnitudes.

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References


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DOI: http://dx.doi.org/10.18533/ijbsr.v4i3.452

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International journal of business and social research (Print)
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