This paper develops a classical-Marxian macroeconomic model to examine the growth and distributional consequences of education. First, the role of education in skill formation is considered and it is shown that an expansion in education will promote growth and have beneficial distributional...

We analyse the issue of justice in the allocation of resources across generations. Our starting point is that if all generations have a claim to natural resources, then each generation should be entitled to exercise veto power on the unpalatable choices of the other generations. We analyse this...

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...

This paper analyzes labor productivity and the law of decreasing labor content (LDLC) originally formulated by Farjoun and Machover (1983). First, it is shown that the standard measures of labor productivity may be rather misleading, owing to their emphasis on monetary aggregates. Instead, the...

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

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...

This paper provides an innovative axiomatic analysis of the notion of exploitation as the unequal exchange of labour. General convex economies with heterogeneous agents endowed with unequal amounts of physical and human capital are considered. An axiomatic characterisation of the class of...

Andrew Levine analyses the theoretical legacy of recent Marxist schools, focusing in particular on analytical Marxism (AM). He argues that AM is uniquely suited to provide the foundations for a revival of Marxist theory. In this paper, Levine’s reconstruction of the core of Marxism and his...

This paper is built around a theorem proved analytically and exemplified empirically in Flaschel, Franke and Veneziani (2010) which states that profitable capital-using labor-saving technical change is under mild conditions always reducing the labor content of commodities. This type of technical...

This paper analyses the equilibrium dynamics of exploitation and class in general accumulation economies with population growth, technical change, and bargaining by adopting a novel computational approach. First, the determinants of the emergence and persistence of exploitation and class are...