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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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Bibliographic Info

Paper provided by Vienna University of Economics, 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, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: Pre-1913
• N34 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: 1913-

This paper has been announced in the following NEP Reports:

• NEP-ALL-2007-04-28 (All new papers)
• NEP-HIS-2007-04-28 (Business, Economic & Financial History)
• NEP-HPE-2007-04-28 (History & Philosophy of Economics)
• NEP-PKE-2007-04-28 (Post Keynesian Economics)

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1. Pasquale Commedatore & Ingrid Kubin, 2003. "The dynamics of wages and employment in a model of monopolistic competition and efficient bargaining," Department of Economics Working Papers wuwp085, Vienna University of Economics, Department of Economics.
   
   • Pasquale Commendatore & Ingrid Kubin, 2003. "The dynamics of wages and employment in a model of monopolistic competition and efficient bargaining," DEGIT Conference Papers c008_024, DEGIT, Dynamics, Economic Growth, and International Trade.
   • Pasquale Commendatore & Ingrid Kubin, . "The dynamics of wages and employment in a model of monopolistic competition and efficient bargaining," Modeling, Computing, and Mastering Complexity 2003 03, Society for Computational Economics.
2. Christian Bellak, 2000. "The Investment Development Path of Austria," Department of Economics Working Papers wuwp075, Vienna University of Economics, Department of Economics.
3. Hansjoerg Klausinger, 1999. "The Stability of Full Employment. A Reconstruction of Chapter 19-Keynesianism," Department of Economics Working Papers wuwp063, Vienna University of Economics, Department of Economics.
4. Dieter Gstach, 1998. "Technical Efficiency in Noisy Multi-Output Settings," Department of Economics Working Papers wuwp059, Vienna University of Economics, Department of Economics.
5. Christian Ragacs & Thomas Steinberger & Martin Zagler, 1998. "Growth Theories and the Persistence of Output Fluctuations: The Case of Austria," Department of Economics Working Papers wuwp060, Vienna University of Economics, Department of Economics.
6. Dieter Gstach, 1996. "A new approach to stochastic frontier estimation: DEA+," Department of Economics Working Papers wuwp039, Vienna University of Economics, Department of Economics.
7. Gert Wehinger, 1997. "Exchange Rate-Based Stabilization: Pleasant Monetary Dynamics?," Department of Economics Working Papers wuwp050, Vienna University of Economics, Department of Economics.
8. Thomas Grandner, 1998. "Market Shares of Price Setting Firms and Trade Unions," Department of Economics Working Papers wuwp061, Vienna University of Economics, Department of Economics.
9. Engelbert Stockhammer, 1999. "Robinsonian and Kaleckian Growth. An Update on Post-Keynesian Growth Theories," Department of Economics Working Papers wuwp067, Vienna University of Economics, Department of Economics.
10. Arne Heise, 2000. "Theorie optimaler Lohnräume. Zur Lohnpolitik in der Europäischen Währungsunion," Department of Economics Working Papers wuwp073, Vienna University of Economics, Department of Economics.
11. Dieter Gstach, 2003. "A Statistical Framework for Estimating Output-Specific Efficiencies," Department of Economics Working Papers wuwp083, Vienna University of Economics, Department of Economics.
12. 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, Department of Economics.
13. Martin Zagler, 1999. "Endogenous Growth, Efficency Wages, and Persistent Unemployment," Department of Economics Working Papers wuwp066, Vienna University of Economics, Department of Economics.
14. Dieter Gstach & Andrew Somers & Susanne Warning, 2003. "Output specific efficiencies: The case of UK private secondary schools," Department of Economics Working Papers wuwp084, Vienna University of Economics, Department of Economics.
15. Arne Heise, 2001. "Das Konzept einer nachhaltigen Finanzpolitik aus heterodoxer Sicht - ein Diskussionsbeitrag," Department of Economics Working Papers wuwp076, Vienna University of Economics, Department of Economics.
16. Thomas Grandner, 2000. "A Note on Unionized Firms' Incentive to Integrate Vertically," Department of Economics Working Papers wuwp070, Vienna University of Economics, Department of Economics.
17. Christian Ragacs & Martin Zagler, 1997. "Economic Policy in a Model of Endogenous Growth," Department of Economics Working Papers wuwp053, Vienna University of Economics, Department of Economics.
18. Leopold Soegner, 1998. "Regulation of a Complementary Imputed Good in a Competitive Environment," Department of Economics Working Papers wuwp056, Vienna University of Economics, Department of Economics.
19. Bernhard Mahlberg & Thomas Url, . "Effects of the Single Market on the Austrian Insurance Industry," WIFO Working Papers 97, WIFO.
    
    • Bernhard Mahlberg & Thomas Url, 2003. "Effects of the single market on the Austrian insurance industry," Empirical Economics, Springer, vol. 28(4), pages 813-838, November.
20. Thomas Grandner, 1997. "Territoriale Evolution von Kooperation in einem Gefangenendilemma," Department of Economics Working Papers wuwp045, Vienna University of Economics, Department of Economics.
21. Hansjoerg Klausinger, 1997. "Die Alternativen zur Deflationspolitik Brünings im Lichte zeitgenössischer Kritik," Department of Economics Working Papers wuwp049, Vienna University of Economics, Department of Economics.
22. Wilfried Altzinger, 1998. "Austria's Foreign Direct Investment in Central and Eastern Europe: 'Supply Based' or 'Market Driven'?," Department of Economics Working Papers wuwp057, Vienna University of Economics, Department of Economics.
23. Kocher, Martin G. & Luptacik, Mikulas & Sutter, Matthias, 2006. "Measuring productivity of research in economics: A cross-country study using DEA," Socio-Economic Planning Sciences, Elsevier, vol. 40(4), pages 314-332, December.
    
    • Martin G. Kocher & Mikulas Luptacik & Matthias Sutter, 2001. "Measuring Productivity of Research in Economics. A Cross-Country Study Using DEA," Department of Economics Working Papers wuwp077, Vienna University of Economics, Department of Economics.
24. Wilfried Altzinger, 1996. "Beschäftigungseffekte des österreichischen Osthandels," Department of Economics Working Papers wuwp034, Vienna University of Economics, Department of Economics.
25. Gerhard Munduch & Alexander Pfister & Leopold Sögner & Alfred Stiassny, 2002. "Estimating Marginal Costs for the Austrian Railway System," Department of Economics Working Papers wuwp078, Vienna University of Economics, Department of Economics.
26. Christian Bellak, 1999. "Explaining Foreign Ownership By Comparative and Competitive Advantage: Empirical Evidence," Department of Economics Working Papers wuwp062, Vienna University of Economics, Department of Economics.
27. Dieter Gstach & Thomas Grandner, 1998. "Restricted Immigration in a Two-Sector Economy," Department of Economics Working Papers wuwp055, Vienna University of Economics, Department of Economics.
28. Engelbert Stockhammer, 2000. "Explaining European Unemployment: Testing the NAIRU Theory and a Keynesian Approach," Department of Economics Working Papers wuwp068, Vienna University of Economics, Department of Economics.
29. Arne Heise, 2000. "Postkeynesianische Beschäftigungstheorie. Einige Prinzipielle Überlegungen," Department of Economics Working Papers wuwp072, Vienna University of Economics, Department of Economics.
30. Martin Zagler, 1996. "Long-Run Monetary Non-Neutrality in a Model of Endogenous Growth," Department of Economics Working Papers wuwp037, Vienna University of Economics, Department of Economics.

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