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Exploitation in Economies with Heterogeneous Preferences, Skills and Assets: An Axiomatic Approach

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  • Veneziani, Roberto
  • Yoshihara, Naoki

Abstract

This paper provides a novel axiomatic analysis of exploitation as the unequal exchange of labour in economies with heterogeneous opti-mising agents endowed with unequal amounts of physical and human capital. A de.nition of exploitation is proposed, which emphasises the relational nature of exploitation and the resulting inequalities in the allocation of labour and income. It is shown that, among all of the major de.nitions, this is the only one which satis.es two formally weak and normatively salient axioms, and allows one to generalise a number of core insights of exploitation theory.

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File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/25839/1/DP579.pdf
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Bibliographic Info

Paper provided by Institute of Economic Research, Hitotsubashi University in its series Discussion Paper Series with number 579.

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Length: 35, 10 p.
Date of creation: Aug 2013
Date of revision:
Handle: RePEc:hit:hituec:579

Note: This version: August 8, 2013
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Related research

Keywords: Exploitation; unequal exchange of labour; Profit Exploitation Correspondence Principle;

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References

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  1. Naoki Yoshihara & Roberto Veneziani, 2009. "Exploitation as the Unequal Exchange of Labour: An Axiomatic Approach," Working Papers 655, Queen Mary, University of London, School of Economics and Finance.
  2. Roemer, John E, 1980. "A General Equilibrium Approach to Marxian Economics," Econometrica, Econometric Society, vol. 48(2), pages 505-30, March.
  3. Yoshihara, Naoki, 2007. "Class and Exploitation in General Convex Cone Economies," Discussion Paper Series a489, Institute of Economic Research, Hitotsubashi University.
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Citations

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Cited by:
  1. 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.
  2. 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.

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