Reexamination of the Marxian Exploitation Theory
AbstractIn this paper, we reexamine the mathematical analysis of Marxian exploitation theory. First, we reexamine the validity of the two types of Marxian labor exploitation, Morishima's (1974) type and Roemer's type (1982), in the argument of Fundamental Marxian Theorem (FMT). We show that the FMT does not hold true if we adopt the Roemer exploitation, and equilibrium notions are the reproducible solution [Roemer (1980)]. Also, we show that the FMT does not hold true for the Morishima exploitation if there exist heterogeneous demand functions among workers. Second, we reexamine the Class-Exploitation Correspondence Principle (CECP) [Roemer (1982)]. We show that the CECP does not hold true in the general convex cone economy even if we adopt the Roemer exploitation. Finally, we propose a new definition of Marxian labor exploitation, and show that all of the above difficulties can be resolved under this new definition.
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Bibliographic InfoPaper provided by Institute of Economic Research, Hitotsubashi University in its series Discussion Paper Series with number a481.
Length: 31 p.
Date of creation: May 2006
Date of revision:
Note: First: October 2004; This version April 2006
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More information through EDIRC
reproducible solutions; the FundamentalMarxian Theorem; the Class-Exploitation Correspondence Principle; the Roemer(1982) definition of labor exploitation; the Morishima (1974) definition of labor exploitation;
Find related papers by JEL classification:
- B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
- B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- D46 - Microeconomics - - Market Structure and Pricing - - - Value Theory
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-10-21 (All new papers)
- NEP-HPE-2006-10-21 (History & Philosophy of Economics)
- NEP-PKE-2006-10-21 (Post Keynesian Economics)
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