IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this paper

One million miles to go: taking the axiomatic road to defining exploitation

Listed author(s):
  • VENEZIANI, Roberto
  • YOSHIHARA, Naoki

This paper analyses the Marxian theory of exploitation. The axiomatic approach standard in social choice theory is adopted in order to study the concept of exploitation - what it is and how it should be captured empirically. Two properties are presented that capture some fundamental Marxian insights. It is shown that, contrary to the received view, there exists a nonempty class of definitions of exploitation that preserve the relation between exploitation and profits – called Profit-Exploitation Correspondence Principle - in general economies with heterogeneous agents, complex class structures, and production technologies with heterogeneous labour inputs. However, among the main approaches, only the so-called ‘New Interpretation’ satisfies the Profit-Exploitation Correspondence Principle in general.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/28678/1/070_hiasDP-E-50.pdf
Download Restriction: no

Paper provided by Hitotsubashi Institute for Advanced Study, Hitotsubashi University in its series Discussion paper series with number HIAS-E-50.

as
in new window

Length: 29 p.
Date of creation: Oct 2015
Handle: RePEc:hit:hiasdp:hias-e-50
Contact details of provider: Postal:
Faculty Building II, 2-1, Naka, Kunitachi, 186 - 8601

Phone: (+81) 42 – 580 - 8604
Fax: (+81) 42 – 580 - 8605
Web page: http://hias.ad.hit-u.ac.jp/
Email:


More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as
in new window


  1. 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.
  2. 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.
  3. Roberto Veneziani, 2013. "Exploitation, inequality and power," Journal of Theoretical Politics, , vol. 25(4), pages 526-545, October.
  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. Morishima, Michio, 1974. "Marx in the Light of Modern Economic Theory," Econometrica, Econometric Society, vol. 42(4), pages 611-632, July.
  6. Yoshihara, Naoki, 2010. "Class and exploitation in general convex cone economies," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 281-296, August.
  7. Tony Lawson, 1999. "Connections and Distinctions: Post Keynesianism and Critical Realism," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 22(1), pages 3-14, October.
  8. Flaschel, Peter, 1983. "Actual Labor Values in a General Model of Production," Econometrica, Econometric Society, vol. 51(2), pages 435-454, March.
  9. Herbert Gintis & Samuel Bowles, 1981. "Structure and Practice in the Labor Theory of Value," Review of Radical Political Economics, Union for Radical Political Economics, vol. 12(4), pages 1-26, January.
  10. Kurz,Heinz D. & Salvadori,Neri, 1997. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521588676, September.
  11. Yoshihara, Naoki & Veneziani, Roberto, 2009. "Exploitation as the Unequal Exchange of Labour : An Axiomatic Approach," Discussion Paper Series a524, Institute of Economic Research, Hitotsubashi University.
  12. Roberto Veneziani, 2004. "The Temporal Single-system Interpretation of Marx's Economics: A Critical Evaluation," Metroeconomica, Wiley Blackwell, vol. 55(1), pages 96-114, 02.
  13. Tony Lawson, 2009. "The current economic crisis: its nature and the course of academic economics," Cambridge Journal of Economics, Oxford University Press, vol. 33(4), pages 759-777, July.
  14. Nuno Ornelas Martins, 2012. "Sen, Sraffa and the revival of classical political economy," Journal of Economic Methodology, Taylor & Francis Journals, vol. 19(2), pages 143-157, June.
  15. Veneziani, Roberto, 2007. "Exploitation and time," Journal of Economic Theory, Elsevier, vol. 132(1), pages 189-207, January.
  16. Bowles, Samuel & Gintis, Herbert, 1977. "The Marxian Theory of Value and Heterogeneous Labour: A Critique and Reformulation," Cambridge Journal of Economics, Oxford University Press, vol. 1(2), pages 173-192, June.
  17. Tony Lawson, 2013. "What is this 'school' called neoclassical economics?," Cambridge Journal of Economics, Oxford University Press, vol. 37(5), pages 947-983.
  18. Simon Mohun, 2004. "The Labour Theory of Value as Foundation for Empirical Investigations," Metroeconomica, Wiley Blackwell, vol. 55(1), pages 65-95, 02.
  19. Sen, Amartya K, 1978. "On the Labour Theory of Value: Some Methodological Issues," Cambridge Journal of Economics, Oxford University Press, vol. 2(2), pages 175-190, June.
  20. Nuno Martins, 2006. "Capabilities as causal powers," Cambridge Journal of Economics, Oxford University Press, vol. 30(5), pages 671-685, September.
  21. Peter Flaschel & Reiner Franke & Roberto Veneziani, 2013. "Labour productivity and the law of decreasing labour content," Cambridge Journal of Economics, Oxford University Press, vol. 37(2), pages 379-402.
  22. Katzner,Donald W., 2009. "Analysis Without Measurement," Cambridge Books, Cambridge University Press, number 9780521102902, August.
  23. Amartya Sen, 1999. "The Possibility of Social Choice," American Economic Review, American Economic Association, vol. 89(3), pages 349-378, June.
  24. Foster, James E, 1994. "Normative Measurement: Is Theory Relevant?," American Economic Review, American Economic Association, vol. 84(2), pages 365-370, May.
  25. 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.
  26. William Thomson, 2001. "On the axiomatic method and its recent applications to game theory and resource allocation," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 18(2), pages 327-386.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:hit:hiasdp:hias-e-50. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Digital Resources Section, Hitotsubashi University Library)

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 references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.

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

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.