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Reexamination of the Marxian Exploitation Theory

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Author Info
Naoki Yoshihara

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Abstract

In 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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Paper provided by Institute of Economic Research, Hitotsubashi University in its series Discussion Paper Series with number a481.

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Date of creation: May 2006
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Handle: RePEc:hit:hituec:a481

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Related research
Keywords: reproducible solutions; the Fundamental Marxian 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

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  1. Morishima, Michio, 1974. "Marx in the Light of Modern Economic Theory," Econometrica, Econometric Society, vol. 42(4), pages 611-32, July. [Downloadable!] (restricted)
  2. Roemer, John E, 1980. "A General Equilibrium Approach to Marxian Economics," Econometrica, Econometric Society, vol. 48(2), pages 505-30, March. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Naoki Yoshihara, 2007. "Class and Exploitation in General Convex Cone Economies," Discussion Paper Series a489, Institute of Economic Research, Hitotsubashi University. [Downloadable!]
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