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The Measurement of Labour Content: A General Approach

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  • Yoshihara, Naoki
  • Veneziani, Roberto

Abstract

This paper analyses the theoretical issues related to the measurement of labour content in the context of general technologies with heterogeneous labour. A novel axiomatic framework is used in order to formulate the key properties of the notion of labour content and analyse its theoretical foundations. Then, a simple measure of labour content is uniquely characterised, which is consistent with common practice in input-output analysis and with a number of recent approaches in value theory.

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File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/25674/1/DP587.pdf
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Bibliographic Info

Paper provided by Institute of Economic Research, Hitotsubashi University in its series Discussion Paper Series with number 587.

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Length: 32 p.
Date of creation: May 2013
Date of revision:
Handle: RePEc:hit:hituec:587

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Keywords: labour content; labour productivity; technical change; axiomatic analysis;

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  1. John E. Roemer, 2010. "Kantian Equilibrium," Scandinavian Journal of Economics, Wiley Blackwell, vol. 112(1), pages 1-24, 03.
  2. Yoshihara, Naoki, 2007. "Class and Exploitation in General Convex Cone Economies," Discussion Paper Series a489, Institute of Economic Research, Hitotsubashi University.
  3. Yoshihara, Naoki & Veneziani, Roberto, 2009. "Commodity Content in a General Input-Output Model: A Comment," Discussion Paper Series a522, Institute of Economic Research, Hitotsubashi University.
  4. Veneziani, Roberto, 2008. "Exploitation, inequality, and power," MPRA Paper 30288, University Library of Munich, Germany.
  5. Yoshihara, N., 1996. "Wealth, Exploitation and Labor Discipline in the Contemporary Capitalist Economy," ISER Discussion Paper 0405, Institute of Social and Economic Research, Osaka University.
  6. Peter Flaschel, Reiner Franke and Roberto Veneziani, 2010. "Labor Productivity and the Law of Decreasing Labor Content," UMASS Amherst Economics Working Papers 2010-11, University of Massachusetts Amherst, Department of Economics.
  7. Mitra, Tapan & Ozbek, Mahmut Kemal, 2010. "On Representation and Weighted Utilitarian Representation of Preference Orders on Finite Utility Streams," Working Papers 10-05, Cornell University, Center for Analytic Economics.
  8. Mariotti, Marco & Veneziani, Roberto, 2012. "Allocating chances of success in finite and infinite societies: The utilitarian criterion," Journal of Mathematical Economics, Elsevier, vol. 48(4), pages 226-236.
  9. Gupta, S & Steedman, Ian, 1971. "An Input-Output Study of Labour Productivity in the British Economy," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 33(1), pages 21-34, February.
  10. Roemer, John E, 1979. "Continuing Controversy on the Falling Rate of Profit: Fixed Capital and Other Issues," Cambridge Journal of Economics, Oxford University Press, vol. 3(4), pages 379-98, December.
  11. Krause, Ulrich, 1981. "Heterogeneous Labour and the Fundamental Marxian Theorem," Review of Economic Studies, Wiley Blackwell, vol. 48(1), pages 173-78, January.
  12. Desai, Meghnad, 1988. " The Transformation Problem," Journal of Economic Surveys, Wiley Blackwell, vol. 2(4), pages 295-333.
  13. Andrew B. Trigg & Jochen Hartwig, 2010. "Marx's reproduction schemes and the Keynesian multiplier: a reply to Sardoni," Cambridge Journal of Economics, Oxford University Press, vol. 34(3), pages 591-595.
  14. Lavoie, M, 1995. "Pasinett's Vertically Hyper-Integrated Sectors and Natural Prices," Working Papers 9515e, University of Ottawa, Department of Economics.
  15. Veneziani, Roberto, 2007. "Exploitation and time," Journal of Economic Theory, Elsevier, vol. 132(1), pages 189-207, January.
  16. Yoshihara, Naoki & Roberto Veneziani, 2011. "Exploitation of Labour and Exploitation of Commodities: A "New Interpretation"," Discussion Paper Series 556, Institute of Economic Research, Hitotsubashi University.
  17. repec:fth:harver:1487 is not listed on IDEAS
  18. Veneziani, Roberto & Yoshihara, Naoki, 2013. "Exploitation in Economies with Heterogeneous Preferences, Skills and Assets: An Axiomatic Approach," Discussion Paper Series 579, Institute of Economic Research, Hitotsubashi University.
  19. Flaschel, Peter, 1983. "Actual Labor Values in a General Model of Production," Econometrica, Econometric Society, vol. 51(2), pages 435-54, March.
  20. Pasinetti, Luigi L, 1988. "Growing Subsystems, Vertically Hyper-integrated Sectors and the Labour Theory of Value," Cambridge Journal of Economics, Oxford University Press, vol. 12(1), pages 125-34, March.
  21. Howell, David R. & Wolff, Edward N., 1987. "Labor Quality and Productivity Growth in the U.S.: An Input-Output Growth Accounting Framework," Working Papers 87-11, C.V. Starr Center for Applied Economics, New York University.
  22. Gérard Duménil & Duncan Foley & Dominique Lévy, 2009. "A Note On The Formal Treatment Of Exploitation In A Model With Heterogenous Labor," Metroeconomica, Wiley Blackwell, vol. 60(3), pages 560-567, 07.
  23. Simon Mohun, 2004. "The Labour Theory of Value as Foundation for Empirical Investigations," Metroeconomica, Wiley Blackwell, vol. 55(1), pages 65-95, 02.
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