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Identifier to cite or link to this item: https://hdl.handle.net/10086/26819

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Title
One Million Miles to Go: Taking the Axiomatic Road to Defining Exploitation
Creator
Creator Name
Veneziani, Roberto Veneziani, Roberto
Affiliation
Affiliation Name
Queen Mary University of London
Creator Name
Yoshihara, Naoki Yoshihara, Naoki
Affiliation
Affiliation Name
Hitotsubashi University
Editor
Contributor Name
Institute of Economic Research, Hitotsubashi University
Key Word
Exploitation
profits
axiomatic analysis
JEL
B51
Abstract
This paper analyses the Marxian theory of exploitation. A general axiomatic approach is developed which is appropriate to study the concept of exploitation - what it is and how it should be captured empirically. Two properties are presented that capture some fundamental Marxian insights. It is shown that, contrary to the received view, there exists a nonempty class of definitions of exploitation that preserve the relation between exploitation and profits - called Profit- Exploitation Correspondence Principle - in general economies with heterogeneous agents, complex class structures, and production technologies with heterogeneous labour inputs. However, among the main approaches, only the so-called ‘New Interpretation’ satisfies the Profit- Exploitation Correspondence Principle in general.
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2014-08
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
Discussion paper series. A ; No. 615
NCID
AA11476336
Number of Pages
25
Appears in Collections
Discussion paper series / Institute of Economic Research, Hitotsubashi University
URL
https://hdl.handle.net/10086/26819