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

  • Veneziani, Roberto
  • Yoshihara, Naoki

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.

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File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/25893/1/DP594.pdf
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Paper provided by Institute of Economic Research, Hitotsubashi University in its series Discussion Paper Series with number 594.

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Length: 42 p.
Date of creation: Sep 2013
Date of revision:
Handle: RePEc:hit:hituec:594
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  1. 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.
  2. John E. Roemer, 2010. "Kantian Equilibrium," Scandinavian Journal of Economics, Wiley Blackwell, vol. 112(1), pages 1-24, 03.
  3. Naoki Yoshihara, 1998. "Wealth, Exploitation and Labor Discipline in the Contemporary Capitalist Economy," Metroeconomica, Wiley Blackwell, vol. 49(1), pages 23-61, 02.
  4. Flaschel, Peter, 1983. "Actual Labor Values in a General Model of Production," Econometrica, Econometric Society, vol. 51(2), pages 435-54, March.
  5. Veneziani, Roberto & Yoshihara, Naoki, 2009. "Strong Subjectivism in the Marxian Theory of Exploitation: A Critique," CCES Discussion Paper Series 21, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.
  6. 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.
  7. Hart, Oliver, 1995. "Firms, Contracts, and Financial Structure," OUP Catalogue, Oxford University Press, number 9780198288817.
  8. Yoshihara, Naoki & Roberto Veneziani, 2011. "Exploitation of Labour and Exploitation of Commodities: A "New Interpretation"," Discussion Paper Series 556, Institute of Economic Research, Hitotsubashi University.
  9. Roberto Veneziani, 2013. "Exploitation, inequality and power," Journal of Theoretical Politics, , vol. 25(4), pages 526-545, October.
  10. Morishima, Michio, 1974. "Marx in the Light of Modern Economic Theory," Econometrica, Econometric Society, vol. 42(4), pages 611-32, July.
  11. 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.
  12. Veneziani, Roberto, 2007. "Exploitation and time," Journal of Economic Theory, Elsevier, vol. 132(1), pages 189-207, January.
  13. Yoshihara, Naoki, 2007. "Class and Exploitation in General Convex Cone Economies," Discussion Paper Series a489, Institute of Economic Research, Hitotsubashi University.
  14. 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, 06.
  15. 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.
  16. 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.
  17. 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.
  18. François Maniquet, 2002. "A study of proportionality and robustness in economies with a commonly owned technology," Review of Economic Design, Springer, vol. 7(1), pages 1-15.
  19. Morishima, Michio, 1969. "Theory of Economic Growth," OUP Catalogue, Oxford University Press, number 9780198281641.
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