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The measurement of labour content : a general approach

Author

Listed:
  • Naoki Yoshihara

    (University of Massachusetts Amherst)

  • Roberto Veneziani

    (Queen Mary University of London)

Abstract

This paper analyses the theoretical issues related to the measurement of labour content for general technologies with heterogeneous labour. A novel axiomatic framework is used in order to formulate the key properties of the notion of labour content and analyse its theoretical foundations. The main measures of labour content used in various strands of the literature are then characterised. Quite surprisingly, a unique axiomatic structure can be identified which underlies measures of labour aggregates used in such diverse fields as neoclassical growth theory, input-output approaches, productivity analysis, and classical political economy.

Suggested Citation

  • Naoki Yoshihara & Roberto Veneziani, 2017. "The measurement of labour content : a general approach," UMASS Amherst Economics Working Papers 2017-14, University of Massachusetts Amherst, Department of Economics.
    • Handle: RePEc:ums:papers:2017-14
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    File URL: http://www.umass.edu/economics/publications/2017-14.pdf
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    Cited by:

    1. is not listed on IDEAS
    2. Yoshihara, Naoki, 2014. "A Progressive Report on Marxian Economic Theory: On the Controversies in Exploitation Theory since Okishio (1963)," Discussion Paper Series 607, Institute of Economic Research, Hitotsubashi University.
    3. Veneziani, Roberto & Yoshihara, Naoki, 2014. "One million miles to go: taking the axiomatic road to defining exploitation," UMASS Amherst Economics Working Papers 2014-10, University of Massachusetts Amherst, Department of Economics.
    4. Tapan Mitra & Kemal Ozbek, 2021. "Ranking by weighted sum," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 72(2), pages 511-532, September.

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    Keywords

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    JEL classification:

    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory

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