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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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Bibliographic Info

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. Veneziani, Roberto & Yoshihara, Naoki, 2011. "Exploitation of Labour and Exploitation of Commodities: a “New Interpretation”," MPRA Paper 34650, University Library of Munich, Germany.
  2. Yoshihara, Naoki, 2007. "Class and Exploitation in General Convex Cone Economies," Discussion Paper Series, Institute of Economic Research, Hitotsubashi University a489, Institute of Economic Research, Hitotsubashi University.
  3. 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.
  4. Naoki Yoshihara & Roberto Veneziani, 2010. "Commodity Content In A General Input-Output Model: A Comment," Metroeconomica, Wiley Blackwell, vol. 61(4), pages 740-748, November.
  5. Desai, Meghnad, 1988. " The Transformation Problem," Journal of Economic Surveys, Wiley Blackwell, vol. 2(4), pages 295-333.
  6. Kurz,Heinz D. & Salvadori,Neri, 1997. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521588676, 9.
  7. Veneziani, Roberto & Yoshihara, Naoki, 2013. "Exploitation in Economies with Heterogeneous Preferences, Skills and Assets: An Axiomatic Approach," Discussion Paper Series, Institute of Economic Research, Hitotsubashi University 579, Institute of Economic Research, Hitotsubashi University.
  8. 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.
  9. 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.
  10. Flaschel, Peter, 1983. "Actual Labor Values in a General Model of Production," Econometrica, Econometric Society, Econometric Society, vol. 51(2), pages 435-54, March.
  11. Veneziani, Roberto, 2007. "Exploitation and time," Journal of Economic Theory, Elsevier, vol. 132(1), pages 189-207, January.
  12. Peter Flaschel & Reiner Franke & Roberto Veneziani, 2013. "Labour productivity and the law of decreasing labour content," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 37(2), pages 379-402.
  13. Peter Flaschel, Reiner Franke and Roberto Veneziani, 2010. "Labor Productivity and the Law of Decreasing Labor Content," UMASS Amherst Economics Working Papers, University of Massachusetts Amherst, Department of Economics 2010-11, .
  14. Roemer, John E, 1979. "Continuing Controversy on the Falling Rate of Profit: Fixed Capital and Other Issues," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 3(4), pages 379-98, December.
  15. Pasinetti, Luigi L, 1988. "Growing Subsystems, Vertically Hyper-integrated Sectors and the Labour Theory of Value," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 12(1), pages 125-34, March.
  16. Lavoie, M, 1995. "Pasinett's Vertically Hyper-Integrated Sectors and Natural Prices," Working Papers, University of Ottawa, Department of Economics 9515e, University of Ottawa, Department of Economics.
  17. Veneziani, Roberto, 2008. "Exploitation, inequality, and power," MPRA Paper 30288, University Library of Munich, Germany.
  18. John E. Roemer, 2010. "Kantian Equilibrium," Scandinavian Journal of Economics, Wiley Blackwell, vol. 112(1), pages 1-24, 03.
  19. repec:fth:harver:1487 is not listed on IDEAS
  20. 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.
  21. Krause, Ulrich, 1981. "Heterogeneous Labour and the Fundamental Marxian Theorem," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 48(1), pages 173-78, January.
  22. 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, Oxford University Press, vol. 34(3), pages 591-595.
  23. 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.
  24. Simon Mohun, 2004. "The Labour Theory of Value as Foundation for Empirical Investigations," Metroeconomica, Wiley Blackwell, vol. 55(1), pages 65-95, 02.
  25. Howell, David R. & Wolff, Edward N., 1987. "Labor Quality and Productivity Growth in the U.S.: An Input-Output Growth Accounting Framework," Working Papers, C.V. Starr Center for Applied Economics, New York University 87-11, C.V. Starr Center for Applied Economics, New York University.
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