Jonathan Nitzan wrote:
> That is not what I'm saying.
>
> We both agree that General Motors -- and every other firm for that
> matter -- know their profits to the cent. We agree that they know full
> well what they pay to their workers. And we agree that both of these
> are pecuniary magnitudes that could be computed as a markup ratio.
> Where we probably disagree is on how this ratio relates to
> exploitation. In my view, this ratio has nothing to do with the
> unknowble rate of exploitation, which is based on unknowble
> "productive contributions" measured in unknowable abstract labor.
--
Michael Perelman Economics Department California State University michael at ecst.csuchico.edu Chico, CA 95929 530-898-5321 fax 530-898-5901