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Cuadernos de Economía

Print version ISSN 0121-4772

Abstract

BENITEZ SANCHEZ, Alberto. DISTRIBUTION, EXPLOITATION AND PROFIT RATES. Cuad. Econ. [online]. 2011, vol.30, n.54, pp.1-19. ISSN 0121-4772.

This article studies Adam Smith's equality between the price of each good and the income obtained from the good. With this aim, this work introduces the income distribution rate designating the corresponding profit/wage proportion and comparing Marx's and Smith's theories, the article establishes that: a) the income distribution rate of each good is equal to the proportion in which the price of the good (in wage units) exceeds its value and b) the exploitation rate is equal to a particular income distribution rate, the rate corresponding to the commodity bundle acquired with the wage. Moreover, it presents a necessary and sufficient condition for the exploitation rate to be greater than the profit rate and also a non trivial upper bound for the quantities of labor incorporated in any collection of goods.

Keywords : exploitation; income distribution; Marx; Morishima; Smith.

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