The reversal of classical wage theory

Vol. 9 No. 1 (1989)

Jan-Mar / 1989
Published January 1, 1989
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Santos, Antonio Carlos Alves dos. 1989. “The Reversal of Classical Wage Theory”. Brazilian Journal of Political Economy 9 (1):77-82.

The reversal of classical wage theory

Antonio Carlos Alves dos Santos
Fundação Getúlio Vargas, São Paulo/SP, Brasil.
Brazilian Journal of Political Economy, Vol. 9 No. 1 (1989), Jan-Mar / 1989, Pages 77-82


This paper discusses that Ricardo’s and Marx’s wages theory, very similar, are
not appropriated to explain the wages in the modern capitalism. We propose that Sraffa’s
theory is much more appropriated to discuss it in the modern capitalism. To him the profit
rate is seen as an independent variable while wages are considered as a residual one.

JEL Classification: B12; B24

Keywords: History of economic thought wages classical political economy sraffian economics