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Commodity Content in a General Input-Output Model: A Comment

Author

Listed:
  • Yoshihara, Naoki
  • 吉原, 直毅
  • ヨシハラ, ナオキ
  • Veneziani, Roberto

Abstract

This paper critically analyses the approach to the determination of values, or commodity contents, developed by Fujimoto and Opocher (2009). Even setting aside various problematic definitional issues, the broader implications of the approach for classical theory are unclear. First, the value-theoretic definitions of skill differentials and bads capture at best necessary conditions and it is unlikely that such definitions can be provided by focusing only on the technological data of the economy. Second, the approach has various interesting implications concerning the relation between productivity and exploitation that directly contradict some of the authors' claims.

Suggested Citation

  • Yoshihara, Naoki & 吉原, 直毅 & ヨシハラ, ナオキ & Veneziani, Roberto, 2009. "Commodity Content in a General Input-Output Model: A Comment," Discussion Paper Series a522, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hit:hituec:a522
    Note: 40057
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    File URL: https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/18003/DP522.pdf
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    References listed on IDEAS

    as
    1. Takao Fujimoto & Arrigo Opocher, 2010. "Commodity Content In A General Input–Output Model," Metroeconomica, Wiley Blackwell, vol. 61(3), pages 442-453, July.
    2. Takao Fujimoto & Yukihiko Fujita, 2008. "A Refutation Of The Commodity Exploitation Theorem," Metroeconomica, Wiley Blackwell, vol. 59(3), pages 530-540, July.
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    Cited by:

    1. Naoki Yoshihara & Roberto Veneziani, 2013. "The Measurement of Labour Content: A General Approach," Working Papers 704, Queen Mary University of London, School of Economics and Finance.
    2. Roberto Veneziani & Naoki Yoshihara, 2010. "Exploitation and Productiveness: The Generalised Commodity Exploitation Theorem Once Again," Bulletin of Political Economy, Bulletin of Political Economy, vol. 4(1), pages 45-58, June.
    3. PARYS, Wilfried, 2018. "Labour values and energy values," Working Papers 2018006, University of Antwerp, Faculty of Business and Economics.
    4. Veneziani, Roberto & Yoshihara, Naoki, 2011. "Exploitation of Labour and Exploitation of Commodities: a “New Interpretation”," MPRA Paper 34650, University Library of Munich, Germany.

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    More about this item

    Keywords

    Value; Bads; Skilled and Unskilled Labour; Productivity and Exploitation;
    All these keywords.

    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian

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