Exploitation and Productiveness: The Generalised Commodity Exploitation Theorem Once Again
In a recent contribution on this journal, Matsuo (2009) has provided an interesting argument to refute the Generalised Commodity Exploitation Theorem (GCET), by highlighting a potential asymmetry between labour and other commodities. In this paper, a novel characterisation of the relation between exploitation and productiveness that is at the heart of the GCET is proved. This result is interesting per se, because it is weaker and more general than the standard GCET. But, owing to the rigorous specification of all the relevant conditions, it also clarifies the structure of Matsuo’s argument, and its dubious theoretical features. It is also argued that, even if Matsuo’s formal argument were deemed convincing, a revised version of the GCET can be proved, which reinstates the symmetry between labour and other commodities in the standard Leontief setting.
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- Naoki Yoshihara & Roberto Veneziani, 2010.
"Commodity Content In A General Input-Output Model: A Comment,"
Wiley Blackwell, vol. 61(4), pages 740-748, November.
- Yoshihara, Naoki & Veneziani, Roberto, 2009. "Commodity Content in a General Input-Output Model: A Comment," Discussion Paper Series a522, Institute of Economic Research, Hitotsubashi University.
- Yoshihara, Naoki & Veneziani, Roberto, 2009. "Commodity Content in a General Input-Output Model: A Comment," CCES Discussion Paper Series 22, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.
- Takao Fujimoto & Arrigo Opocher, 2010. "Commodity Content In A General Input-Output Model," Metroeconomica, Wiley Blackwell, vol. 61(3), pages 442-453, 07.
- repec:cup:cbooks:9780521443258 is not listed on IDEAS
- Takao Fujimoto & Yukihiko Fujita, 2008. "A Refutation Of The Commodity Exploitation Theorem," Metroeconomica, Wiley Blackwell, vol. 59(3), pages 530-540, 07.
- repec:cup:cbooks:9780521588676 is not listed on IDEAS
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