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A Note On The Formal Treatment Of Exploitation In A Model With Heterogenous Labor

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  • Gérard Duménil
  • Duncan Foley
  • Dominique Lévy

Abstract

The paper presents a formal generalization of Marx's analysis of exploitation and prices in economies in which categories of labor are distinguished according to their unequal ability to create exchange value. Measures of exploitation of categories of labor which are consistent with both the Price of Net Product‐Unallocated Purchasing Power (PNP‐UPP) (New Interpretation) and the traditional interpretation of Marx's theory of value are defined which aggregate consistently over labor categories and sectors. In order to measure rates of exploitation from real economic data some additional assumption about relative rates of exploitation (which Marx often explicitly assumes to be equal) is required.

Suggested Citation

  • 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.
    • Handle: RePEc:bla:metroe:v:60:y:2009:i:3:p:560-567
    DOI: 10.1111/j.1467-999X.2009.00353.x
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    References listed on IDEAS

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    1. Jean-Louis Cayatte, 1984. "Travail simple et travail complexe chez Marx," Revue Économique, Programme National Persée, vol. 35(2), pages 221-246.
    2. 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.
    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. 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.
    5. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Roberto Veneziani & Naoki Yoshihara, 2015. "Unequal Exchange, Assets, and Power: Recent Developments in Exploitation Theory," Studies in Choice and Welfare, in: Constanze Binder & Giulio Codognato & Miriam Teschl & Yongsheng Xu (ed.), Individual and Collective Choice and Social Welfare, edition 127, pages 253-287, Springer.
    2. Yoshihara, Naoki & Veneziani, Roberto, 2018. "The Theory Of Exploitation As The Unequal Exchange Of Labour," Economics and Philosophy, Cambridge University Press, vol. 34(3), pages 381-409, November.
    3. Roberto Veneziani & Naoki Yoshihara, 2017. "Globalisation and inequality in a dynamic economy: an axiomatic analysis of unequal exchange," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 49(3), pages 445-468, December.
    4. Roberto Veneziani & Naoki Yoshihara, 2015. "Exploitation in economies with heterogeneous preferences, skills and assets: An axiomatic approach," Journal of Theoretical Politics, , vol. 27(1), pages 8-33, January.
    5. Simon Mohun & Roberto Veneziani, 2017. "Value, Price, And Exploitation: The Logic Of The Transformation Problem," Journal of Economic Surveys, Wiley Blackwell, vol. 31(5), pages 1387-1420, December.
    6. Jonathan F. Cogliano & Roberto Veneziani & Naoki Yoshihara, 2019. "Exploitation, skills, and inequality," Review of Social Economy, Taylor & Francis Journals, vol. 77(2), pages 208-249, April.
    7. Roberto Veneziani & Naoki Yoshihara, 2010. "Exploitation and Profits: A General Axiomatic Approach in Convex Economies with Heterogeneous Agents," UMASS Amherst Economics Working Papers 2010-12, University of Massachusetts Amherst, Department of Economics.
    8. Jonathan F. Cogliano, 2021. "Marx's Equalized Rate of Exploitation," Working Papers 2021-01, University of Massachusetts Boston, Economics Department.
    9. Yoshihara, Naoki & Veneziani, Roberto, 2013. "The Measurement of Labour Content: A General Approach," Discussion Paper Series 587, Institute of Economic Research, Hitotsubashi University.
    10. Flaschel, Peter & Fröhlich, Nils & Veneziani, Roberto, 2011. "The sources of profitability," MPRA Paper 30861, University Library of Munich, Germany.
    11. Jonathan F. Cogliano & Roberto Veneziani & Naoki Yoshihara, 2021. "The Dynamics of International Exploitation," Working Papers 2021-02, University of Massachusetts Boston, Economics Department.
    12. Andrea Ricci, 2016. "Unequal Exchange in International Trade:A General Model," Working Papers 1605, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2016.
    13. Yoshihara, Naoki & 吉原, 直毅 & ヨシハラ, ナオキ & Veneziani, Roberto, 2009. "Exploitation as the Unequal Exchange of Labour : An Axiomatic Approach," Discussion Paper Series a524, Institute of Economic Research, Hitotsubashi University.
    14. Veneziani, Roberto & Yoshihara, Naoki, 2014. "One Million Miles to Go: Taking the Axiomatic Road to Defining Exploitation," Discussion Paper Series 615, Institute of Economic Research, Hitotsubashi University.
    15. Jonathan F. Cogliano & Roberto Veneziani & Naoki Yoshihara, 2016. "The Dynamics of Exploitation and Class in Accumulation Economies," Metroeconomica, Wiley Blackwell, vol. 67(2), pages 242-290, May.
    16. Dong–Min Rieu & Hyun Woong Park, 2018. "Unproductive Activities and the Rate of Surplus Value at the Industry Level in Korea, 1995–2015," UMASS Amherst Economics Working Papers 2018-07, University of Massachusetts Amherst, Department of Economics.
    17. Yoshihara, Naoki & Veneziani, Roberto, 2023. "The measurement of labour content: An axiomatic approach," Journal of Economic Behavior & Organization, Elsevier, vol. 212(C), pages 392-402.
    18. Anwar Shaikh & Kyle Glenn, 2018. "The Classical Treatment of Skilled Labor," Working Papers 1811, New School for Social Research, Department of Economics.
    19. repec:ums:papers:2014-010 is not listed on IDEAS
    20. Jonathan F. Cogliano, 2011. "Smith’s “Perfect Liberty” and Marx’s Equalized Rate of Surplus-Value," Working Papers 1108, New School for Social Research, Department of Economics.
    21. Hyun Woong Park & Dong-Min Rieu, 2020. "A Mathematical Formulation of the Dual Nature of Unproductive Labor," Review of Radical Political Economics, Union for Radical Political Economics, vol. 52(4), pages 716-738, December.

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