This paper provides a mathematical analysis of the Marxian theory of the exploitation of labour in general equilibrium models. The two main definitions of Marxian exploitation in the literature, proposed by Morishima (1974) and Roemer (1982), respectively, are analysed in the context of general...

In a recent contribution on this journal, Matsuo (2009) has provided an interesting argument to refute the Generalised Commodity Exploitation Theorem (GCET), by highlighting a potential asymmetry between labour and other commodities. In this paper, a novel characterisation of the relation...

In the standard Okishio-Morishima approach, the existence of profits is proved to be equivalent to the exploitation of labour. Yet, it can also be proved that the existence of profits is equivalent to the ‘exploitation’ of any good. Labour and commodity exploitation are just different...

This paper analyses two central issues in exploitation theory. First, the appropriate definition of individual and aggregate measures of exploitation is discussed. Second, the relation between profits and exploitation (the so-called Fundamental Marxian Theorem) is analysed. A general framework...

This paper critically analyses the strongly subjectivist approach to exploitation theory recently proposed by Matsuo ([7]), in the context of general convex economies with heterogeneous agents. It is proved that the Fundamental Marxian Theorem is not preserved in his subjectivist approach,...

This paper critically analyses the approach to the determination of values, or commodity contents, developed by Fujimoto and Opocher (2009). Even setting aside various problematic definitional issues, the broader implications of the approach for classical theory are unclear. First, the...

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...

This paper analyses the theoretical issues related to the measurement of labour content in the context of general technologies with heterogeneous labour. A novel axiomatic framework is used in order to formulate the key properties of the notion of labour content and analyse its theoretical...

We examine the impact of internal and external R&D on labor productivity in a 6-year panel of 304 innovating firms. We apply a dynamic linear panel data model that allows for decreasing returns to scale in internal and external R&D with a non-linear approximation of changes in the knowledge...

This paper shows firm level micro analysis of information network use and its impact on firm's productivity. New evidences on economic impacts of IT by type of its application are provided, based on METIfs firm level data of Japanese manufacturers and distributors. It is found that productivity...