$\mathsf { v } _ { \mathsf { h } } ( \mathsf { t } )$ is necessary labour-time in year t;
$\mathsf { p } _ { \mathsf { h } } ( \mathsf { t } )$ is surplus labour-time in year t.
Living value per hour: lvph(t) $\mathsf { \Omega } = \left( \mathsf { V } _ { \mathsf { p } } ( \mathsf { t } ) + \mathsf { p } _ { \mathsf { p } } ( \mathsf { t } ) \right)$ / h(t) [€/hour]
where $\mathsf { V } _ { \mathsf { p } } ( \mathsf { t } )$ is total wages in year t;
$\rho _ { \mathsf { p } } ( \mathsf { t } )$ is total profits in year t;
h(t) is total hours worked in year t.
The value of constant capital has already been created at this point of time. It is transferred to commodities and represents specific amounts of value:
$$
\mathsf { c } _ { \mathsf { h } } ( \mathsf { t } ) = \mathsf { c } _ { \mathsf { p } } ( \mathsf { t } ) / \mathsf { | v p h ( t ) }
$$
where $\complement _ { \mathrm { h } } ( \mathrm { t } )$ is constant capital in year t, measured in hours;
$\mathtt { C } _ { \mathfrak { p } } ( \mathfrak { t } )$ is constant capital in year t, measured in monetary units (€);
lvph(t) is living value per hour in year t, measured in €/hour.
Given all these assumptions, MELT (t) can be calculated for t = 0 and then iteratively for all other points of time t = 1…n.
• I selected the following information industries and industry aggregates for analysis:
D58T63 Information and communication;
D58T60 Publishing, audiovisual, and broadcasting activities;
D58 Publishing;
D59T60 Audiovisual and broadcasting activities;
D61 Telecommunications;
D62T63 IT and other information services;
D73 Advertising and marketing research;
D90T93 Arts, entertainment, and recreation.
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Themes