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The Dynamics of Exploitation and Class in Accumulation Economies

Listed author(s):
  • Jonathan F. Cogliano
  • Roberto Veneziani
  • Naoki Yoshihara

This paper analyses the equilibrium dynamics of exploitation and class in general accumulation economies with population growth, technical change, and bargaining by adopting a novel computational approach. First, the determinants of the emergence and persistence of exploitation and class are investigated, and the role of labour-saving technical change and, even more importantly, power is highlighted. Second, it is shown that the concept of exploitation provides the foundations for a logically coherent and empirically relevant analysis of inequalities and class relations in advanced capitalist economies. An index that identifies the exploitation level, or intensity of each individual can be defined and its empirical distribution studied using the standard tools developed in the theory of inequality measurement.

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File URL: http://hdl.handle.net/10.1111/meca.12114
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Article provided by Wiley Blackwell in its journal Metroeconomica.

Volume (Year): 67 (2016)
Issue (Month): 2 (05)
Pages: 242-290

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Handle: RePEc:bla:metroe:v:67:y:2016:i:2:p:242-290
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  1. Peter Flaschel, Reiner Franke and Roberto Veneziani, 2010. "Labor Productivity and the Law of Decreasing Labor Content," UMASS Amherst Economics Working Papers 2010-11, University of Massachusetts Amherst, Department of Economics.
  2. Yoshihara, Naoki, 2010. "Class and exploitation in general convex cone economies," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 281-296, August.
  3. Ian Wright, 2011. "Classical macrodynamics and the labor theory of value," Open Discussion Papers in Economics 76, The Open University, Faculty of Social Sciences, Department of Economics.
  4. Ian Wright, 2008. "The Emergence of the Law of Value in a Dynamic Simple Commodity Economy," Review of Political Economy, Taylor & Francis Journals, vol. 20(3), pages 367-391.
  5. Yoshihara, Naoki & Veneziani, Roberto, 2009. "Exploitation as the Unequal Exchange of Labour: An Axiomatic Approach," CCES Discussion Paper Series 23, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.
  6. 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.
  7. Veneziani, Roberto, 2008. "Exploitation, inequality, and power," MPRA Paper 30288, University Library of Munich, Germany.
  8. Peter Skott & Frederick Guy, 2007. "Power, productivity and profits," UMASS Amherst Economics Working Papers 2007-02, University of Massachusetts Amherst, Department of Economics.
  9. Ian Wright, 2011. "Convergence to natural prices in simple production," Open Discussion Papers in Economics 75, The Open University, Faculty of Social Sciences, Department of Economics.
  10. Veneziani, Roberto & Yoshihara, Naoki, 2014. "One million miles to go: taking the axiomatic road to defining exploitation," UMASS Amherst Economics Working Papers 2014-10, University of Massachusetts Amherst, Department of Economics.
  11. Skillman, Gilbert L., 1995. "Ne Hic Saltaveris: The Marxian Theory of Exploitation After Roemer," Economics and Philosophy, Cambridge University Press, vol. 11(02), pages 309-331, October.
  12. Veneziani, Roberto, 2007. "Exploitation and time," Journal of Economic Theory, Elsevier, vol. 132(1), pages 189-207, January.
  13. Simon Mohun, 2004. "The Labour Theory of Value as Foundation for Empirical Investigations," Metroeconomica, Wiley Blackwell, vol. 55(1), pages 65-95, 02.
  14. repec:ums:papers:2014-010 is not listed on IDEAS
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