Reexamination of the Marxian Exploitation Theory

Naoki Yoshihara (), 直毅 吉原 and ナオキ ヨシハラ

No a481, Discussion Paper Series from Institute of Economic Research, Hitotsubashi University

Abstract: In this paper, we reexamine the mathematical analysis of Marxian exploitation theory. First, we reexamine the validity of the two types of Marxian labor exploitation, Morishima's (1974) type and Roemer's type (1982), in the argument of Fundamental Marxian Theorem (FMT). We show that the FMT does not hold true if we adopt the Roemer exploitation, and equilibrium notions are the reproducible solution [Roemer (1980)]. Also, we show that the FMT does not hold true for the Morishima exploitation if there exist heterogeneous demand functions among workers. Second, we reexamine the Class-Exploitation Correspondence Principle (CECP) [Roemer (1982)]. We show that the CECP does not hold true in the general convex cone economy even if we adopt the Roemer exploitation. Finally, we propose a new definition of Marxian labor exploitation, and show that all of the above difficulties can be resolved under this new definition.

Keywords: reproducible solutions; the FundamentalMarxian Theorem; the Class-Exploitation Correspondence Principle; the Roemer(1982) definition of labor exploitation; the Morishima (1974) definition of labor exploitation (search for similar items in EconPapers)
JEL-codes: B24 B51 D31 D46 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2006-05
New Economics Papers: this item is included in nep-hpe and nep-pke
Note: First: October 2004; This version April 2006
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Persistent link: https://EconPapers.repec.org/RePEc:hit:hituec:a481

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