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Class and Exploitation in General Convex Cone Economies

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  • Yoshihara, Naoki

Abstract

In this paper, we examine what appropriate formulations for labor exploitation are, in order to explain the emergence of class and exploitation status in capitalist economies. Given the well-known controversy on plausible formulations for labor exploitation in joint production economies, we propose an axiom, Axiom for Labor Exploitation (LE), which every formulation of labor exploitation should satisfy to be considered 'Marxian.' Using this axiom, the necessary and sufficient condition for plausible formulations of Marxian exploitation is characterized to verify Class-Exploitation Correspondence Principle (CECP) [Roemer (1982)]. According to this, if some labor exploitation formulations, such as the well-known formulations of Morishima (1974) and Roemer (1982; Chapter 5) are applied, CECP no longer holds in general convex cone economies. Based upon this argument, we propose two new definitions of labor exploitation, each of which verifies CECP as well as Fundamental Marxian Theorem (FMT).

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Bibliographic Info

Paper provided by Institute of Economic Research, Hitotsubashi University in its series Discussion Paper Series with number a489.

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Length: 26, 8 p.
Date of creation: Jan 2007
Date of revision:
Handle: RePEc:hit:hituec:a489

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Keywords: convex cone economies; reproducible solutions; FundamentalMarxian Theorem; Class-Exploitation Correspondence Principle; Axiom for Labor Exploitation;

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References

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  1. 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.
  2. Petri, Fabio, 1980. "Positive Profits without Exploitation: A Note on the Generalized Fundamental Marxian Theorem," Econometrica, Econometric Society, vol. 48(2), pages 531-33, March.
  3. Morishima, Michio, 1974. "Marx in the Light of Modern Economic Theory," Econometrica, Econometric Society, vol. 42(4), pages 611-32, July.
  4. Roemer, John E, 1986. "Equality of Resources Implies Equality of Welfare," The Quarterly Journal of Economics, MIT Press, vol. 101(4), pages 751-84, November.
  5. Lipietz, Alain, 1982. "The so-called "transformation problem" revisited," Journal of Economic Theory, Elsevier, vol. 26(1), pages 59-88, February.
  6. Yoshihara, Naoki & Veneziani, Roberto, 2009. "Exploitation as the Unequal Exchange of Labour : An Axiomatic Approach," Discussion Paper Series a524, Institute of Economic Research, Hitotsubashi University.
  7. Flaschel, Peter, 1983. "Actual Labor Values in a General Model of Production," Econometrica, Econometric Society, vol. 51(2), pages 435-54, March.
  8. Naoki Yoshihara, 2000. "Characterizations of Bargaining Solutions in Production Economies with Unequal Skills," Discussion Paper Series a396, Institute of Economic Research, Hitotsubashi University.
  9. Devine, James & Dymski, Gary, 1992. "Walrasian Marxism Once Again," Economics and Philosophy, Cambridge University Press, vol. 8(01), pages 157-162, April.
  10. 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.
  11. Reiko Gotoh & Naoki Yoshihara, 2000. "A Class of Fair Distribution Rules a la Rawls and Sen," Discussion Paper Series a389, Institute of Economic Research, Hitotsubashi University.
  12. Roemer, John E, 1980. "A General Equilibrium Approach to Marxian Economics," Econometrica, Econometric Society, vol. 48(2), pages 505-30, March.
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Cited by:
  1. Yoshihara, Naoki & Veneziani, Roberto, 2009. "Exploitation as the Unequal Exchange of Labour: An Axiomatic Approach," CCES Discussion Paper Series 23, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.
  2. 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.
  3. Amitava Krishna Dutt & Roberto Veneziani, 2010. "A Classical-Marxian Model Of Education, Growth And Distribution," UMASS Amherst Economics Working Papers 2010-10, University of Massachusetts Amherst, Department of Economics.
  4. Juan Carlos Cuestas & Bruce Philp, 2010. "Exploitation and the class struggle," Working Papers 2010/2, Nottingham Trent University, Nottingham Business School, Economics Division.
  5. Veneziani, Roberto & Yoshihara, Naoki, 2011. "Exploitation and Profits: A General Axiomatic Approach in Convex Economies with Heterogeneous Agents," CCES Discussion Paper Series 44, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.
  6. Veneziani, Roberto & Yoshihara, Naoki, 2011. "Exploitation of Labour and Exploitation of Commodities: a “New Interpretation”," MPRA Paper 34650, University Library of Munich, Germany.
  7. Veneziani, Roberto & Yoshihara, Naoki, 2012. "Exploitation in Economies with Heterogeneous Preferences, Skills and Assets: An Axiomatic Approach," Discussion Paper Series 579, Institute of Economic Research, Hitotsubashi University.

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