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Commodity Content In A General Input-Output Model: A Comment


  • Naoki Yoshihara
  • Roberto Veneziani


This paper critically analyses the approach to the determination of values, or commodity contents, developed by Fujimoto and Opocher in 2009. Even setting aside various problematic definitional issues, the broader implications of the approach for classical theory are unclear. First, the value-theoretic definitions of skill differentials and bads capture at best necessary conditions and it is unlikely that such definitions can be provided by focusing only on the technological data of the economy. Second, the approach has various interesting implications concerning the relation between productiveness and exploitation that directly contradict some of the authors' claims. Copyright © 2010 The Authors. Journal compilation © 2010 Blackwell Publishing Ltd.

Suggested Citation

  • 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.
  • Handle: RePEc:bla:metroe:v:61:y:2010:i:4:p:740-748

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    References listed on IDEAS

    1. Kurz,Heinz D. & Salvadori,Neri, 1997. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521588676, March.
    2. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-380, December.
    3. Burmeister,Edwin, 1980. "Capital Theory and Dynamics," Cambridge Books, Cambridge University Press, number 9780521297035, March.
    4. Tatsuo Hatta, 1976. "The Paradox in Capital Theory and Complementarity of Inputs," Review of Economic Studies, Oxford University Press, vol. 43(1), pages 127-142.
    5. P. Garegnani, 1970. "Heterogeneous Capital, the Production Function and the Theory of Distribution," Review of Economic Studies, Oxford University Press, vol. 37(3), pages 407-436.
    6. Schefold, Bertram, 2008. "C.E.S. production functions in the light of the Cambridge critique," Journal of Macroeconomics, Elsevier, vol. 30(2), pages 783-797, June.
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    Cited by:

    1. Yoshihara, Naoki & Veneziani, Roberto, 2013. "The Measurement of Labour Content: A General Approach," Discussion Paper Series 587, Institute of Economic Research, Hitotsubashi University.
    2. Veneziani, Roberto & Yoshihara, Naoki, 2011. "Exploitation of Labour and Exploitation of Commodities: a “New Interpretation”," MPRA Paper 34650, University Library of Munich, Germany.
    3. Veneziani, Roberto & Yoshihara, Naoki, 2009. "Exploitation and productiveness: the generalised commodity exploitation theorem once again," MPRA Paper 30450, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian


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