Wages Paid in Value in Self-Replacing Economies

Authors

  • Alberto Benitez UNIVERSIDAD AUTONOMA METROPOLITANA
  • Alejandro Benitez INSTITUTO TECNOLOGICO DE TIJUANA

DOI:

https://doi.org/10.18533/ijbsr.v4i3.452

Keywords:

Sraffa, wages, prices, value and real magnitudes.

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.

References

Benítez, A. (1986). L’étalon dans la theorie de P. Sraffa. Cahiers d’Économie Politique 12: 131-146.

Benítez, A. (2009). El pago del salario. Investigación Económica 270: 69-96.

Dmitriev, V. (1974). Essays on Value, Competition and Utility. Cambridge: Cambridge University Press.

Leontief, W. (1941). The Structure of the American Economy 1919-1939. Cambridge: Cambridge University Press.

Negishi, T. (1985). Economic Theories in a non-Walrasian Tradition. Cambridge: Cambridge University Press.

Neuman, J. V. (1945). A Model of General Economic Equilibrium. Review of Economic Studies 13: 135-145.

Sraffa, P. (1960). Production of Commodities by Means of Commodities. Cambridge: Cambridge University Press.

Takayama, A. (1985). Mathematical Economics. Cambridge: Cambridge University Press.

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Published

2014-03-25

Issue

Vol. 4 No. 3 (2014): March

Section

Article

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