ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles by P K S NamboodiriSubscribe to P K S Namboodiri

The Meaning of Detente

October 29, 1977 historical process and never fully achieved. This is perhaps one of the biggest merits of this book: it keeps class relations in full view. At the same time, it tries to dispel some of the wrong impressions. For instance, the linear negative relationship between wage and profit rate in Sraffa's model is sometimes misunderstood as an analytical formulation of the notion of class struggle, Here it is clearly stated that the wage-profit frontier can hardly be construed as the battle line between labour and "capital In the event of a wage hike capitalists would change the tehnology to maintain profit rate; and it is not possible to travel up and down the wage-profit curve.
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