IDEAS home Printed from https://ideas.repec.org/h/spr/stcchp/978-3-662-46439-7_15.html
   My bibliography  Save this book chapter

Unequal Exchange, Assets, and Power: Recent Developments in Exploitation Theory

In: Individual and Collective Choice and Social Welfare

Author

Listed:
  • Roberto Veneziani

    (Queen Mary University of London)

  • Naoki Yoshihara

    (Hitotsubashi University)

Abstract

This paper surveys and extends some recent contributions on the theory of exploitation as the unequal exchange of labour. A model of dynamic economies with heterogeneous optimising agents is presented which encompasses the models used in the literature as special cases. It is shown that the notion of exploitation is logically coherent and can be meaningfully analysed in such a general framework. It is then shown that the axiomatic approach of social choice theory can be adopted to explore the normative foundations of the notion of exploitation. Finally, it is argued that purely distributive approaches to exploitation are not entirely compelling and a notion of dominance, or unequal power is necessary.

Suggested Citation

  • 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.
    • Handle: RePEc:spr:stcchp:978-3-662-46439-7_15
    DOI: 10.1007/978-3-662-46439-7_15
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Skillman, Gilbert L., 1995. "Ne Hic Saltaveris: The Marxian Theory of Exploitation After Roemer," Economics and Philosophy, Cambridge University Press, vol. 11(2), pages 309-331, October.
    2. Roemer,John E., 1997. "Egalitarian Perspectives," Cambridge Books, Cambridge University Press, number 9780521574457, September.
    3. Roberto Veneziani & Naoki Yoshihara, 2011. "Strong Subjectivism In The Marxian Theory Of Exploitation: A Critique," Metroeconomica, Wiley Blackwell, vol. 62(1), pages 53-68, February.
    4. 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.
    5. Foley, Duncan K., 1982. "Realization and accumulation in a Marxian model of the circuit of capital," Journal of Economic Theory, Elsevier, vol. 28(2), pages 300-319, December.
    6. Roberto Veneziani, 2013. "Exploitation, inequality and power," Journal of Theoretical Politics, , vol. 25(4), pages 526-545, October.
    7. François Maniquet, 2002. "A study of proportionality and robustness in economies with a commonly owned technology," Review of Economic Design, Springer;Society for Economic Design, vol. 7(1), pages 1-15.
    8. Lea Ypi, 2010. "On the Confusion between Ideal and Non-ideal in Recent Debates on Global Justice," Political Studies, Political Studies Association, vol. 58, pages 536-555, June.
    9. 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.
    10. Morishima, Michio, 1974. "Marx in the Light of Modern Economic Theory," Econometrica, Econometric Society, vol. 42(4), pages 611-632, July.
    11. Yoshihara, Naoki, 2010. "Class and exploitation in general convex cone economies," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 281-296, August.
    12. Flaschel, Peter, 1983. "Actual Labor Values in a General Model of Production," Econometrica, Econometric Society, vol. 51(2), pages 435-454, March.
    13. Veneziani, Roberto & Yoshihara, Naoki, 2011. "Exploitation of Labour and Exploitation of Commodities: a “New Interpretation”," MPRA Paper 34650, University Library of Munich, Germany.
    14. Naoki Yoshihara & Roberto Veneziani, 2009. "Exploitation as the Unequal Exchange of Labour: An Axiomatic Approach," Working Papers 655, Queen Mary University of London, School of Economics and Finance.
    15. Hart, Oliver, 1995. "Firms, Contracts, and Financial Structure," OUP Catalogue, Oxford University Press, number 9780198288817.
    16. Morishima, Michio, 1969. "Theory of Economic Growth," OUP Catalogue, Oxford University Press, number 9780198281641.
    17. Veneziani, Roberto, 2007. "Exploitation and time," Journal of Economic Theory, Elsevier, vol. 132(1), pages 189-207, January.
    18. Samuel Bowles & Herbert Gintis, 1990. "Contested Exchange: New Microfoundations for the Political Economy of Capitalism," Politics & Society, , vol. 18(2), pages 165-222, June.
    19. Naoki Yoshihara & Roberto Veneziani, 2009. "Exploitation as the Unequal Exchange of Labour: An Axiomatic Approach," Working Papers 655, Queen Mary University of London, School of Economics and Finance.
    20. Roberto Veneziani & Naoki Yoshihara, 2011. "Strong Subjectivism In The Marxian Theory Of Exploitation: A Critique," Metroeconomica, Wiley Blackwell, vol. 62(1), pages 53-68, February.
    21. Naoki Yoshihara, 1998. "Wealth, Exploitation and Labor Discipline in the Contemporary Capitalist Economy," Metroeconomica, Wiley Blackwell, vol. 49(1), pages 23-61, February.
    22. Lea Ypi, 2010. "On the Confusion between Ideal and Non‐ideal in Recent Debates on Global Justice," Political Studies, Political Studies Association, vol. 58(3), pages 536-555, June.
    23. John E. Roemer, 2010. "Kantian Equilibrium," Scandinavian Journal of Economics, Wiley Blackwell, vol. 112(1), pages 1-24, March.
    24. Roemer John E. & Silvestre Joaquim, 1993. "The Proportional Solution for Economies with Both Private and Public Ownership," Journal of Economic Theory, Elsevier, vol. 59(2), pages 426-444, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. 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.
    2. Roberto Veneziani & Luca Zamparelli & Naoki Yoshihara, 2017. "A Progress Report On Marxian Economic Theory: On The Controversies In Exploitation Theory Since Okishio (1963)," Journal of Economic Surveys, Wiley Blackwell, vol. 31(5), pages 1421-1448, December.
    3. 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.
    4. 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.
    5. 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.
    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. Yoshihara, Naoki & Veneziani, Roberto, 2013. "The Measurement of Labour Content: A General Approach," Discussion Paper Series 587, Institute of Economic Research, Hitotsubashi University.
    9. Naoki Yoshihara & Roberto Veneziani, 2009. "Exploitation as the Unequal Exchange of Labour: An Axiomatic Approach," Working Papers 655, Queen Mary University of London, School of Economics and Finance.
    10. Yoshihara, Naoki, 2014. "A Progressive Report on Marxian Economic Theory: On the Controversies in Exploitation Theory since Okishio (1963)," Discussion Paper Series 607, Institute of Economic Research, Hitotsubashi University.
    11. Naoki Yoshihara & Roberto Veneziani, 2009. "Exploitation as the Unequal Exchange of Labour: An Axiomatic Approach," Working Papers 655, Queen Mary University of London, School of Economics and Finance.
    12. 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.
    13. repec:ums:papers:2014-010 is not listed on IDEAS
    14. Galanis, Giorgos & Veneziani, Roberto & Yoshihara, Naoki, 2019. "The dynamics of inequalities and unequal exchange of labor in intertemporal linear economies," Journal of Economic Dynamics and Control, Elsevier, vol. 100(C), pages 29-46.
    15. Yoshihara, Naoki, 2010. "Class and exploitation in general convex cone economies," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 281-296, August.
    16. Naoki Yoshihara, 2021. "On the labor theory of value as the basis for the analysis of economic inequality in the capitalist economy," Japanese Economy, Taylor & Francis Journals, vol. 47(2-3), pages 190-212, July.
    17. Jonathan F Cogliano, 2023. "Marx’s equalised rate of exploitation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 47(1), pages 133-169.
    18. Naoki Yoshihara & Soh Kaneko, 2016. "On the Existence and Characterization of Unequal Exchange in the Free Trade Equilibrium," Metroeconomica, Wiley Blackwell, vol. 67(2), pages 210-241, May.
    19. Jonathan F. Cogliano, 2017. "Surplus Value Production and Realization in Marxian Theory - Applications to the U.S., 1987-2015," Working Paper Series 2017-01, Dickinson College, Department of Economics.
    20. Gilbert L. Skillman, 2017. "Marx’s Capital through the lens of Roemer’s General Theory (and vice-versa)," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 49(3), pages 423-443, December.
    21. Roberto Veneziani, 2013. "Exploitation, inequality and power," Journal of Theoretical Politics, , vol. 25(4), pages 526-545, October.

    More about this item

    Keywords

    Axiomatic social choice; Exploitation;

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:stcchp:978-3-662-46439-7_15. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.