Exploitation in Economies with Heterogeneous Preferences, Skills and Assets: An Axiomatic Approach

Roberto Veneziani, Naoki Yoshihara () and 直毅 吉原

No 579, Discussion Paper Series from Institute of Economic Research, Hitotsubashi University

Abstract: This paper provides a novel axiomatic analysis of the notion of exploitation as the unequal exchange of labour in economies with heterogeneous optimising agents endowed with unequal amounts of physical and human capital. A new definition of exploitation is proposed, which emphasises the relational nature of exploitation and the resulting inequalities in the allocation of labour and income. It is shown that, among all of the major approaches, this definition is the only one satisfying two weak axioms that incorporate some key normative intuitions, and it allows one to generalise a number of core insights of exploitation theory.

Keywords: Exploitation; unequal exchange of labour; Profit Exploitation Correspondence Principle (search for similar items in EconPapers)
Date: 2012-11
New Economics Papers: this item is included in nep-hme
Note: 41136
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Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Exploitation in economies with heterogeneous preferences, skills and assets: An axiomatic approach (2015)
Working Paper: Exploitation in Economies with Heterogeneous Preferences, Skills and Assets: An Axiomatic Approach (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:hit:hituec:579

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