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The Classical Treatment of Skilled Labor

Author

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  • Anwar Shaikh

    (Department of Economics, New School for Social Research)

  • Kyle Glenn

    (Department of Economics, New School for Social Research)

Abstract

The ability to accommodate heterogeneous types of labor has presented a serious issue for the labor theory of value. Ever since Bohm-Bawerk's criticism of Marx's theory as circular, Marxist's have contributed considerable efforts to prove the labor theory of value holds with the inclusion of heterogeneous labor. This paper analyzes some of the more notable approaches to the problem. This paper proceeds in the following manner: Section 1 briefly introduces the topic of skilled labor within the labor theory of value as well as Bohm-Bawerk's theoretical critique. Section 2 presents the basic framework and notation used in the paper. Section 3 explores Hilferding's solution to the problem as formalized by Rowthorn. The well-known contribution to the literature by Bowles and Gintis is also addressed here. Section 4 examines the extension to heterogeneous labor within the "New Interpretation" of Dumenil and Foley. Section 5 introduces a method formalized by Shaikh which this paper refers to as a "cost of skilling" approach. Finally, section 6 discusses key implications of the varying approaches and situates the cost of skilling amongst them.

Suggested Citation

  • Anwar Shaikh & Kyle Glenn, 2018. "The Classical Treatment of Skilled Labor," Working Papers 1811, New School for Social Research, Department of Economics.
    • Handle: RePEc:new:wpaper:1811
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    File URL: http://www.economicpolicyresearch.org/econ/2018/NSSR_WP_112018.pdf
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    References listed on IDEAS

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    1. 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, July.
    2. Ochoa, Eduardo M, 1989. "Values, Prices, and Wage-Profit Curves in the U.S. Economy," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 13(3), pages 413-429, September.
    3. Morishima, Michio, 1978. "S. Bowles and H. Gintis on the Marxian Theory of Value and Heterogeneous Labour," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 2(3), pages 305-309, September.
    4. Bowles, Samuel & Gintis, Herbert, 1978. "Professor Morishima on Heterogeneous Labour and Marxian Value Theory," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 2(3), pages 311-314, September.
    5. Lefteris Tsoulfidis, 2008. "Price-value deviations: further evidence from input-output data of Japan," International Review of Applied Economics, Taylor & Francis Journals, vol. 22(6), pages 707-724.
    6. Duncan K. Foley, 1982. "The Value of Money the Value of Labor Power and the Marxian Transformation Problem," Review of Radical Political Economics, Union for Radical Political Economics, vol. 14(2), pages 37-47, June.
    7. Rosinger, Jean-Luc, 1996. "An Elementary Proof of the Bowles-Gintis-Morishima Fundamental Marxian Theorem with Heterogeneous Labour," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 20(6), pages 779-782, November.
    8. Bowles, Samuel & Gintis, Herbert, 1977. "The Marxian Theory of Value and Heterogeneous Labour: A Critique and Reformulation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 1(2), pages 173-192, June.
    9. Ulrich Krause, 1981. "Heterogeneous Labour and the Fundamental Marxian Theorem," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 48(1), pages 173-178.
    10. Anwar Shaikh, 2018. "Skilled Labor in the Classical tradition," Working Papers 1801, New School for Social Research, Department of Economics.
    11. Philip Harvey, 1985. "The Value-Creating Capacity of Skilled Labor in Marxian Economics," Review of Radical Political Economics, Union for Radical Political Economics, vol. 17(1-2), pages 83-102, March.
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    Cited by:

    1. Kyle Glenn, 2021. "Social Labor vs Human Capital: Competing Theories of Skills," Working Papers 2115, New School for Social Research, Department of Economics.

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    JEL classification:

    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist

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