In subsistence economies with general convex technology and rational optimising agents, a new, axiomatic approach is developed, which allows an explicit analysis of the core positive and normative intuitions behind the concept of exploitation. Three main new axioms, called Labour Exploitation in...

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 provides an innovative axiomatic analysis of the notion of exploitation as the unequal exchange of labour, focusing on the relation between exploitation and profits. General convex economies with heterogeneous agents endowed with unequal amounts of physical and human capital are...

It is frequently believed, in a quite schizophrenic fashion, that a theory of value must just solve the question of relative prices (a microeconomic problem), being mainly the theory of money the piece needed for determining the absolute or monetary level of prices (a macroeconomic problem). But...

Existing empirical schemas of class structure do not specify the capitalist class in an adequate manner. We propose a schema in which the specification of capitalist households is based on wealth thresholds. Individuals in noncapitalist households are assigned class locations based on their...

In classical and Marxian political economy economic advancement takes place in stages of development. These stages are characterized by different functional distributions of income. In this paper we show that the Cobb-Douglas Production Function is the only production function which has the...

This article demonstrates certain doctrines of the Austrian school of economics are untenable. The focus is on certain aspects of capital theory undergirding Austrian Business Cycle theory. Other criticisms of Austrian Business Cycle Theory from Cambridge-Italian economists are briefly surveyed....

In this paper the intellectual work of Homero Cueva is briefly shown, describing some content of his books and papers. During his life, his task to spread the classic theory from main contemporary classical economists was remarkable. Indeed, the originality of Homero Cuevas in his critical...

Milton Friedman (1962) famously argued there can be no freedom of speech where the government owns the printing presses. According to Friedman, political freedom presupposes economic freedom. Less well-known are F. A. Hayek's and John Jewkes's illustrations of the same principle, both drawing...

During 2021 and 2022 many news media outlets have been reporting that millions of workers in the US have been quitting their jobs in record numbers. In a global economy rebounding from the economic downturn caused by the Covid-19 outbreak and demanding more workers, a high rate of resignations...