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The Measurement of Labour Content: A General Approach

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  • Naoki Yoshihara

    ()
    (Hitotsubashi University, Tokyo)

  • Roberto Veneziani

    ()
    (Queen Mary, University of London)

Abstract

This paper analyses the theoretical issues related to the measurement of labour content in the context of general technologies with heterogeneous labour. A novel axiomatic framework is used in order to formulate the key properties of the notion of labour content and analyse its theoretical foundations. Then, a simple measure of labour content is uniquely characterised, which is consistent with common practice in input-output analysis and with a number of recent approaches in value theory.

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Paper provided by Queen Mary, University of London, School of Economics and Finance in its series Working Papers with number 704.

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Date of creation: Jun 2013
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Handle: RePEc:qmw:qmwecw:wp704

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Keywords: Labour content; Labour productivity; Technical change; Axiomatic analysis;

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  1. repec:fth:harver:1487 is not listed on IDEAS
  2. Yoshihara, Naoki & Veneziani, Roberto, 2009. "Commodity Content in a General Input-Output Model: A Comment," CCES Discussion Paper Series 22, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.
  3. Gupta, S & Steedman, Ian, 1971. "An Input-Output Study of Labour Productivity in the British Economy," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 33(1), pages 21-34, February.
  4. Veneziani, Roberto, 2007. "Exploitation and time," Journal of Economic Theory, Elsevier, vol. 132(1), pages 189-207, January.
  5. Krause, Ulrich, 1981. "Heterogeneous Labour and the Fundamental Marxian Theorem," Review of Economic Studies, Wiley Blackwell, vol. 48(1), pages 173-78, January.
  6. Roemer, John E, 1979. "Continuing Controversy on the Falling Rate of Profit: Fixed Capital and Other Issues," Cambridge Journal of Economics, Oxford University Press, vol. 3(4), pages 379-98, December.
  7. Desai, Meghnad, 1988. " The Transformation Problem," Journal of Economic Surveys, Wiley Blackwell, vol. 2(4), pages 295-333.
  8. Yoshihara, Naoki, 2010. "Class and exploitation in general convex cone economies," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 281-296, August.
  9. Howell, David R. & Wolff, Edward N., 1987. "Labor Quality and Productivity Growth in the U.S.: An Input-Output Growth Accounting Framework," Working Papers 87-11, C.V. Starr Center for Applied Economics, New York University.
  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. Andrew B. Trigg & Jochen Hartwig, 2010. "Marx's reproduction schemes and the Keynesian multiplier: a reply to Sardoni," Cambridge Journal of Economics, Oxford University Press, vol. 34(3), pages 591-595.
  12. Yoshihara, Naoki & Roberto Veneziani, 2011. "Exploitation of Labour and Exploitation of Commodities: A "New Interpretation"," Discussion Paper Series 556, Institute of Economic Research, Hitotsubashi University.
  13. John E. Roemer, 2010. "Kantian Equilibrium," Scandinavian Journal of Economics, Wiley Blackwell, vol. 112(1), pages 1-24, 03.
  14. Pasinetti, Luigi L, 1988. "Growing Subsystems, Vertically Hyper-integrated Sectors and the Labour Theory of Value," Cambridge Journal of Economics, Oxford University Press, vol. 12(1), pages 125-34, March.
  15. Lavoie, Marc, 1997. "Pasinetti's Vertically Hyper-integrated Sectors and Natural Prices," Cambridge Journal of Economics, Oxford University Press, vol. 21(4), pages 453-67, July.
  16. Simon Mohun, 2004. "The Labour Theory of Value as Foundation for Empirical Investigations," Metroeconomica, Wiley Blackwell, vol. 55(1), pages 65-95, 02.
  17. Mitra, Tapan & Ozbek, Mahmut Kemal, 2010. "On Representation and Weighted Utilitarian Representation of Preference Orders on Finite Utility Streams," Working Papers 10-05, Cornell University, Center for Analytic Economics.
  18. Peter Flaschel & Reiner Franke & Roberto Veneziani, 2013. "Labour productivity and the law of decreasing labour content," Cambridge Journal of Economics, Oxford University Press, vol. 37(2), pages 379-402.
  19. Veneziani, Roberto, 2008. "Exploitation, inequality, and power," MPRA Paper 30288, University Library of Munich, Germany.
  20. Mariotti, Marco & Veneziani, Roberto, 2012. "Allocating chances of success in finite and infinite societies: The utilitarian criterion," Journal of Mathematical Economics, Elsevier, vol. 48(4), pages 226-236.
  21. Flaschel, Peter, 1983. "Actual Labor Values in a General Model of Production," Econometrica, Econometric Society, vol. 51(2), pages 435-54, March.
  22. Veneziani, Roberto & Yoshihara, Naoki, 2013. "Exploitation in Economies with Heterogeneous Preferences, Skills and Assets: An Axiomatic Approach," Discussion Paper Series 579, Institute of Economic Research, Hitotsubashi University.
  23. 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, 07.
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