Salary basket and value of the labor force of Mexico

Alberto Merced Castro Valencia; Fabiola Guadalupe Arriaga López

doi:10.46932/sfjdv4n3-017

Authors

Alberto Merced Castro Valencia
Fabiola Guadalupe Arriaga López

DOI:

https://doi.org/10.46932/sfjdv4n3-017

Keywords:

rate of surplus value, value of the labor force, royal wage, labor productivity, inflation, goods-wage producing sector

Abstract

The essay first examines the relations between the rate of surplus value and the value of the labor force. It then focuses on the examination of the determinants of the value of the labor force: real wages, annual work hours, and labor productivity in the branches that produce wage-goods. Along with the formal analysis, the values assumed by such variables in the Mexican economy during the validity of the neoliberal model are quantified. Here we observe a strong decrease in the hourly value of the labor force (increase in the rate of surplus value), in which the decrease in real wages plays a key role.

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