====================== HES POSTING =================== 
 
Michael Williams claims that "a surplus over the socially specific 
reproductive requirements of labour is a perfectly well-defined" notion. 
I don't see how this could be possible once the subsistence wage cannot 
be "perfectly defined". Surplus too would become something "vaguely" 
determined. Besides, in talking on this topic, we can't forget all the 
problems related to Marx's (and Ricardo's) labor theory of value. Think 
of Sraffa: he had to abandon the notion of subsistence wage and defined 
the surplus only in physical terms or in price terms, certainly not in 
labor terms. 
 
Claudio Sardoni 
Dipartimento di Scienze Economiche 
 
============ FOOTER TO HES POSTING ============ 
For information, send the message "info HES" to [log in to unmask]