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The Theory of Exploitation as the Unequal Exchange of Labour

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  • Veneziani, Roberto
  • Yoshihara, Naoki

Abstract

This paper analyses the normative and positive foundations of the theory of exploitation as the unequal exchange of labour (UEL). The key intuitions behind all of the main approaches to UEL exploitation are explicitly analysed as a series of formal claims in a general economic environment. It is then argued that these intuitions can be captured by one fundamental axiom - called Labour Exploitation - which defines the basic domain of all UEL exploitation forms and identifies the formal and theoretical framework for the analysis of the appropriate definition of exploitation.

Suggested Citation

  • Veneziani, Roberto & Yoshihara, Naoki, 2016. "The Theory of Exploitation as the Unequal Exchange of Labour," Discussion Paper Series 652, Institute of Economic Research, Hitotsubashi University.
  • Handle: RePEc:hit:hituec:652
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    References listed on IDEAS

    as
    1. 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.
    2. Peter Skott & Frederick Guy, 2013. "Power, Luck and Ideology in a Model of Executive Pay," UMASS Amherst Economics Working Papers 2013-01, University of Massachusetts Amherst, Department of Economics.
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    Cited by:

    1. Jonathan F. Cogliano & Roberto Veneziani & Naoki Yoshihara, 2018. "Exploitation, skills, and inequality," Working Paper Series 2018-01, Dickinson College, Department of Economics.

    More about this item

    Keywords

    Exploitation; Unequal Exchange of Labour; axiomatic analysis;

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian

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