On the Marxist View of Labor-Capital Relations: Modern Approach

N. Rozanova and A. Nazarenko

Voprosy Ekonomiki, 2004, issue 12

Abstract: Karl Marx saw only one aspect of the whole variety of relationships between labor and capital — the conflict leading to revolution. These relationships can be viewed as a game under the "prisoners' dilemma" situation where two main strategies of both parties are to conflict or to cooperate. Within this theoretical framework, different outcomes from partial and general equilibrium point of view are considered in the article. The cooperative outcome is treated as the only Pareto-efficient.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2004:id:1980

DOI: 10.32609/0042-8736-2004-12-131-140

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