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Unequal Exchange, Assets, and Power: Recent Developments in Exploitation Theory

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  • Veneziani, Roberto
  • Yoshihara, Naoki

Abstract

This paper surveys and extends some recent contributions on the theory of exploitation as the unequal exchange of labour. A model of dynamic economies with heterogeneous optimising agents is presented which encompasses the models used in the literature as special cases. It is shown that the notion of exploitation is logically coherent and can be meaningfully analysed in such a general framework. It is then shown that the axiomatic approach of social choice theory can be adopted to explore the normative foundations of the notion of exploitation. Finally, it is argued that purely distributive approaches to exploitation are not entirely compelling and a notion of dominance, or unequal power is necessary.

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File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/25893/1/DP594.pdf
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Bibliographic Info

Paper provided by Institute of Economic Research, Hitotsubashi University in its series Discussion Paper Series with number 594.

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Length: 42 p.
Date of creation: Sep 2013
Date of revision:
Handle: RePEc:hit:hituec:594

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Keywords: Exploitation; axiomatic social choice;

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  1. Lea Ypi, 2010. "On the Confusion between Ideal and Non-ideal in Recent Debates on Global Justice," Political Studies, Political Studies Association, vol. 58, pages 536-555, 06.
  2. Naoki Yoshihara, 1998. "Wealth, Exploitation and Labor Discipline in the Contemporary Capitalist Economy," Metroeconomica, Wiley Blackwell, vol. 49(1), pages 23-61, 02.
  3. Roberto Veneziani & Naoki Yoshihara, 2009. "Strong Subjectivism in the Marxian Theory of Exploitation: A Critique," Working Papers 654, Queen Mary, University of London, School of Economics and Finance.
  4. Veneziani, Roberto, 2008. "Exploitation, inequality, and power," MPRA Paper 30288, University Library of Munich, Germany.
  5. Morishima, Michio, 1974. "Marx in the Light of Modern Economic Theory," Econometrica, Econometric Society, vol. 42(4), pages 611-32, July.
  6. 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.
  7. 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.
  8. MANIQUET, François, . "A study of proportionality and robustness in economies with a commonly owned technology," CORE Discussion Papers RP -1661, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  9. Flaschel, Peter, 1983. "Actual Labor Values in a General Model of Production," Econometrica, Econometric Society, vol. 51(2), pages 435-54, March.
  10. 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.
  11. Veneziani, Roberto, 2007. "Exploitation and time," Journal of Economic Theory, Elsevier, vol. 132(1), pages 189-207, January.
  12. 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.
  13. Yoshihara, Naoki, 2007. "Class and Exploitation in General Convex Cone Economies," Discussion Paper Series a489, Institute of Economic Research, Hitotsubashi University.
  14. Hart, Oliver, 1995. "Firms, Contracts, and Financial Structure," OUP Catalogue, Oxford University Press, number 9780198288817.
  15. John E. Roemer, 2010. "Kantian Equilibrium," Scandinavian Journal of Economics, Wiley Blackwell, vol. 112(1), pages 1-24, 03.
  16. Skillman, Gilbert L., 1995. "Ne Hic Saltaveris: The Marxian Theory of Exploitation After Roemer," Economics and Philosophy, Cambridge University Press, vol. 11(02), pages 309-331, October.
  17. Roemer John E. & Silvestre Joaquim, 1993. "The Proportional Solution for Economies with Both Private and Public Ownership," Journal of Economic Theory, Elsevier, vol. 59(2), pages 426-444, April.
  18. Morishima, Michio, 1969. "Theory of Economic Growth," OUP Catalogue, Oxford University Press, number 9780198281641.
  19. Foley, Duncan K., 1982. "Realization and accumulation in a Marxian model of the circuit of capital," Journal of Economic Theory, Elsevier, vol. 28(2), pages 300-319, December.
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