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Commodity Content in a General Input-Output Model: A Comment

Author

Listed:
  • Yoshihara, Naoki
  • Veneziani, Roberto

Abstract

This paper critically analyses the approach to the determination of values, or commodity contents, developed by Fujimoto and Opocher (2009). Even setting aside various problematic definitional issues, the broader implications of the approach for classical theory are unclear. First, the value-theoretic definitions of skill differentials and bads capture at best necessary conditions and it is unlikely that such definitions can be provided by focusing only on the technological data of the economy. Second, the approach has various interesting implications concerning the relation between productivity and exploitation that directly contradict some of the authors' claims.

Suggested Citation

  • 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.
  • Handle: RePEc:hit:hituec:a522
    Note: September 2009
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    File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/18003/1/DP522.pdf
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    Cited by:

    1. Yoshihara, Naoki & Veneziani, Roberto, 2013. "The Measurement of Labour Content: A General Approach," Discussion Paper Series 587, Institute of Economic Research, Hitotsubashi University.
    2. 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.
    3. Veneziani, Roberto & Yoshihara, Naoki, 2009. "Exploitation and productiveness: the generalised commodity exploitation theorem once again," MPRA Paper 30450, University Library of Munich, Germany.
    4. PARYS, Wilfried, 2018. "Labour values and energy values," Working Papers 2018006, University of Antwerp, Faculty of Applied Economics.

    More about this item

    Keywords

    Value; Bads; Skilled and Unskilled Labour; Productivity and Exploitation;

    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian

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