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A Note On The Formal Treatment Of Exploitation In A Model With Heterogenous Labor

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  • Gérard Duménil
  • Duncan Foley
  • Dominique Lévy

Abstract

The paper presents a formal generalization of Marx's analysis of exploitation and prices in economies in which categories of labor are distinguished according to their unequal ability to create exchange value. Measures of exploitation of categories of labor which are consistent with both the Price of Net Product-Unallocated Purchasing Power (PNP-UPP) (New Interpretation) and the traditional interpretation of Marx's theory of value are defined which aggregate consistently over labor categories and sectors. In order to measure rates of exploitation from real economic data some additional assumption about relative rates of exploitation (which Marx often explicitly assumes to be equal) is required. Copyright � 2009 The Authors. Journal compilation � 2009 Blackwell Publishing Ltd.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Metroeconomica.

Volume (Year): 60 (2009)
Issue (Month): 3 (07)
Pages: 560-567

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Handle: RePEc:bla:metroe:v:60:y:2009:i:3:p:560-567

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Cited by:
  1. Yoshihara, Naoki & Veneziani, Roberto, 2009. "Exploitation as the Unequal Exchange of Labour: An Axiomatic Approach," CCES Discussion Paper Series 23, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.
  2. Naoki Yoshihara & Roberto Veneziani, 2013. "The Measurement of Labour Content: A General Approach," UMASS Amherst Economics Working Papers 2013-05, University of Massachusetts Amherst, Department of Economics.
  3. Roberto Veneziani & Naoki Yoshihara, 2010. "Exploitation and Profits: A General Axiomatic Approach in Convex Economies with Heterogeneous Agents," UMASS Amherst Economics Working Papers 2010-12, University of Massachusetts Amherst, Department of Economics.
  4. Veneziani, Roberto & Yoshihara, Naoki, 2013. "Unequal Exchange, Assets, and Power: Recent Developments in Exploitation Theory," Discussion Paper Series 594, Institute of Economic Research, Hitotsubashi University.
  5. Flaschel, Peter & Fröhlich, Nils & Veneziani, Roberto, 2011. "The sources of profitability," MPRA Paper 30861, University Library of Munich, Germany.

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