Dated Labour Inputs and the Theory of Value and Exploitation

Abstract

If we want to produce one unit of good j at time zero a_oj units of labour have to be available at time −1 and have to be paid at time zero. In addition the vector y^1j = (a_1j,…. a_nj) has to be available at time −1, In order to produce this vector a_o1 a_1j + a_o2 a_2j + …a_ona_nj== a_o y^1j units of labour have to be made available at time −2 (and have to be paid at time −1). In addition the vector of inputs y^2j = Ay^1j has to be available at time −2. This again requires labour in the amount a_o y^2j and so on.