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Money Labor Corn

Money Labor Corn. Money Labor Corn. BLUE CORN MODEL. www.sraffa.corn. Assumptions simplest case possible one-sector (“corn”) economy no fixed capital seed corn corn

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Money Labor Corn

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  1. Money Labor Corn

  2. Money Labor Corn

  3. BLUE CORN MODEL www.sraffa.corn

  4. Assumptions • simplest case possible • one-sector (“corn”) economy • no fixed capital • seed corn corn • living labor output • all output plowed back––literally–– • into production • so farm-workers & -owners • consume none of it

  5. Assumptions • corn production rises by 25%/year • the growth rate of • corn is as high as an elephant’s eye! • and it looks like it’s climbing. right up to the sky! • no increase in employment

  6. WHAT IF THEMONETARY EXPRESSION OF LABOR-TIME ($/hr)INCREASES BY 10% / yr ?

  7. 1 + MONEY ROP = (1 + GROWTH RATE OF MELT) × (1 + LABOR ROP) IF THE GROWTH RATE OF MELT IS CONSTANT, THEN MONEY & LABOR ROPs HAVE SAME TREND

  8. www.akliman.squarespace.com akliman.squarespace.com

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