The reversal of classical wage theory

Antonio Carlos Alves dos Santos ()

Brazilian Journal of Political Economy, 1989, vol. 9, issue 1, 77-82

Abstract: This paper discusses that Ricardo’s and Marx’s wages theory, very similar, arenot appropriated to explain the wages in the modern capitalism. We propose that Sraffa’stheory is much more appropriated to discuss it in the modern capitalism. To him the profitrate is seen as an independent variable while wages are considered as a residual one. JEL Classification: B12; B24

Keywords: History of economic thought; wages; classical political economy; sraffian economics (search for similar items in EconPapers)
Date: 1989
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