The Classical Treatment of Skilled Labor

Anwar Shaikh () and Kyle Glenn ()
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Anwar Shaikh: Department of Economics, New School for Social Research
Kyle Glenn: Department of Economics, New School for Social Research

No 1811, Working Papers from New School for Social Research, Department of Economics

Abstract: The ability to accommodate heterogeneous types of labor has presented a serious issue for the labor theory of value. Ever since Bohm-Bawerk's criticism of Marx's theory as circular, Marxist's have contributed considerable efforts to prove the labor theory of value holds with the inclusion of heterogeneous labor. This paper analyzes some of the more notable approaches to the problem. This paper proceeds in the following manner: Section 1 briefly introduces the topic of skilled labor within the labor theory of value as well as Bohm-Bawerk's theoretical critique. Section 2 presents the basic framework and notation used in the paper. Section 3 explores Hilferding's solution to the problem as formalized by Rowthorn. The well-known contribution to the literature by Bowles and Gintis is also addressed here. Section 4 examines the extension to heterogeneous labor within the "New Interpretation" of Dumenil and Foley. Section 5 introduces a method formalized by Shaikh which this paper refers to as a "cost of skilling" approach. Finally, section 6 discusses key implications of the varying approaches and situates the cost of skilling amongst them.

JEL-codes: B14 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2018-09
New Economics Papers: this item is included in nep-hme, nep-hpe and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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