This paper analyses labour productivity and the law of decreasing labour content (LDLC) originally formulated by Farjoun and Machover. While accepting the validity of that law, it shows that the conventional measures of labour productivity used in the literature may be rather misleading, because...

In the ordinary Sraffian production price equations, a rate of interest, i, is introduced as an additional variable. It is argued that even in the long run it will generally fall short of the rate of profit on own capital, r. Employing two simple behavioral functions for industrial and financial...