Class and Exploitation in General Convex Cone Economies
In this paper, we examine what appropriate formulations for labor exploitation are, in order to explain the emergence of class and exploitation status in capitalist economies. Given the well-known controversy on plausible formulations for labor exploitation in joint production economies, we propose an axiom, Axiom for Labor Exploitation (LE), which every formulation of labor exploitation should satisfy to be considered 'Marxian.' Using this axiom, the necessary and sufficient condition for plausible formulations of Marxian exploitation is characterized to verify Class-Exploitation Correspondence Principle (CECP) [Roemer (1982)]. According to this, if some labor exploitation formulations, such as the well-known formulations of Morishima (1974) and Roemer (1982; Chapter 5) are applied, CECP no longer holds in general convex cone economies. Based upon this argument, we propose two new definitions of labor exploitation, each of which verifies CECP as well as Fundamental Marxian Theorem (FMT).
|Length:||26, 8 p.|
|Date of creation:||Jan 2007|
|Contact details of provider:|| Postal: 2-1 Naka, Kunitachi City, Tokyo 186|
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- 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.
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- Reiko Gotoh & Naoki Yoshihara, 2003. "A class of fair distribution rules à la Rawls and Sen," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 22(1), pages 63-88, 08.
- Reiko Gotoh & Naoki Yoshihara, 2000. "A Class of Fair Distribution Rules a la Rawls and Sen," Discussion Paper Series a389, Institute of Economic Research, Hitotsubashi University.
- Morishima, Michio, 1974. "Marx in the Light of Modern Economic Theory," Econometrica, Econometric Society, vol. 42(4), pages 611-632, July.
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- Flaschel, Peter, 1983. "Actual Labor Values in a General Model of Production," Econometrica, Econometric Society, vol. 51(2), pages 435-454, March. Full references (including those not matched with items on IDEAS)
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