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Uncertainty and exploitation in history

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Author Info
Engelbert Stockhammer () (Department of Economics, Vienna University of Economics & B.A.)
Paul Ramskogler () (Department of Economics, Vienna University of Economics & B.A.)

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Abstract

The paper builds on the Marxist concept of exploitation to explore the meaning of the Post Keynesian notion of uncertainty. Uncertainty is mediated by institutions and is distributed unevenly among different social groups. As different historical social formations entail different institutional structures, the distribution and nature of uncertainty also differ. The configurations between class relations and uncertainty are analyzed for the capitalist, feudal and slave modes of production. It is demonstrated that modes of production do not only imply specific exploitative relations but also different relative distributions of uncertainty amongst classes. Joining Marxian and Post Keynesian approaches allows a richer understanding of exploitive relations and illuminates the full societal impact of uncertainty. It is shown that only in capitalism is the exploited class exposed to a substantial degree of economic uncertainty.

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Paper provided by Vienna University of Economics and B.A., Department of Economics in its series Department of Economics Working Papers with number wuwp104.

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Date of creation: Apr 2007
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Handle: RePEc:wiw:wiwwuw:wuwp104

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Find related papers by JEL classification:
B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
N33 - Economic History - - Labor and Consumers, Demography, Education, Income, and Wealth - - - Europe: Pre-1913
N34 - Economic History - - Labor and Consumers, Demography, Education, Income, and Wealth - - - Europe: 1913-

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  1. Thomas Grandner, 2000. "A Note on Unionized Firms' Incentive to Integrate Vertically," Department of Economics Working Papers wuwp070, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
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    Other versions:
  3. Christian Ragacs & Martin Zagler, 1997. "Economic Policy in a Model of Endogenous Growth," Department of Economics Working Papers wuwp053, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
  4. Leopold Soegner, 1998. "Regulation of a Complementary Imputed Good in a Competitive Environment," Department of Economics Working Papers wuwp056, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
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  12. Hansjoerg Klausinger, 1997. "Die Alternativen zur Deflationspolitik Brünings im Lichte zeitgenössischer Kritik," Department of Economics Working Papers wuwp049, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
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    Other versions:
  16. Engelbert Stockhammer, 1999. "Robinsonian and Kaleckian Growth. An Update on Post-Keynesian Growth Theories," Department of Economics Working Papers wuwp067, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
  17. Arne Heise, 2000. "Theorie optimaler Lohnräume. Zur Lohnpolitik in der Europäischen Währungsunion," Department of Economics Working Papers wuwp073, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
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  19. Fabio Rumler, 1999. "Computable General Equilibrium Modeling, Numerical Simulations in a 2-Country Monetary General Equilibrium Model," Department of Economics Working Papers wuwp065, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
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  21. Dieter Gstach & Thomas Grandner, 1998. "Restricted Immigration in a Two-Sector Economy," Department of Economics Working Papers wuwp055, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
  22. Christian Bellak, 1999. "Explaining Foreign Ownership By Comparative and Competitive Advantage: Empirical Evidence," Department of Economics Working Papers wuwp062, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
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  25. Engelbert Stockhammer, 2000. "Explaining European Unemployment: Testing the NAIRU Theory and a Keynesian Approach," Department of Economics Working Papers wuwp068, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
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