A Progress Report on Marxian Economic Theory: On the Controversies in Exploitation Theory Since Okishio (1963)

Yoshihara, Naoki

doi:10.1111/joes.12253

Cited by 4 publications

(6 citation statements)

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“…Periodically, new papers on the problem of transformation get published. See, for example, Yoshihara and Veneziani (2013), Huang (2014), Diaz and Velasco (2016), Sandemose (2016), Mohun and Veneziani (2017), Burns (2017), Montes-Rojas (2017), Yoshihara (2017), Parys (2018), Bellofiore (2018), Pushnoi (2019), Wright (2019), Schefold (2016, Sinha (2019), Lopes (2019), Cuyvers (2020), Jaramillo (2020), Moseley (2020), Basu (2020), Shaikh (2021. Moseley (2016) proposed a solution to the transformation problem that incorporates ideas specific to both TSSI and NI.…”

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confidence: 99%

The Transformation Problem of Values into Prices of Production: Marx Errors or an Inattentive Reading of 'Capital'?

Kalyuzhnyi¹

2021

Preprint

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The author presents in this paper the results of an analysis of Marx's theory of the original transformation of the values of commodities into prices of production. In a fragmented form, we find elements of this theory in Capital and other works of Marx. The author has highlighted the reconstruction of the table in Chapter 9 of Volume III of Capital by restoring the re-counting of profits and wages in it by adding to each particular sphere sector A, in which they produce the means of production. This reconstruction, first, made it possible to clarify the economic meaning of the two macroeconomic equations used by Marx in the transformation.Secondly, it allowed us to reconstruct the continuous mechanism of the original transformation of values into prices. This mechanism consists of two stages: the first stage is the formation of average rates of profit in separate spheres of production, consisting of two sectors of production: A (producing the means of production) and B (output of the final product). At the second stage, the general rate of profit is formed for sectors B. This process continues continuously and sets the same rate of profit in all sectors of the economy, A and B. Based on this concept of Marx, the author proposed new iterative algorithms for calculating original and equilibrium prices of production. These algorithms are implemented in Excel and tested with Wolfram Mathematica software. The author also proposed a method of inverse transformation of equilibrium production prices of commodities into their initial absolute values.

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confidence: 99%

The Transformation Problem of Values into Prices of Production: Marx Errors or an Inattentive Reading of 'Capital'?

Kalyuzhnyi¹

2021

Preprint

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“…Fujimoto and Fujita 3 The so-called complete matrix is discussed below. 4 For references to this literature, see Yoshihara (2017).…”

Section: Introductionmentioning

confidence: 99%

“…1 For an excellent survey of the debate on exploitation theory since the seminal contribution of Nobuo Okishio in the 1960s, see Yoshihara (2017). The second claim of the CTV is called the generalized CET by Yoshihara (2017) and the CET by Fujimoto and Fujita (2008). 2 In the main body of the article, Gintis and Bowles (1981) distinguish between labor and labor power and comment at length on this distinction.…”

Section: Introductionmentioning

confidence: 99%

Exploitation of Labor or Exploitation of Commodities?

Basu

2023

Review of Radical Political Economics

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Attempts to use commodities to construct theories of value and use such value theory to claim that, in capitalism, commodities can be exploited, just like labor is, rest on two conceptual flaws: (a) failure to distinguish between labor and labor power and (b) failure to distinguish labor power and other commodities. One way to avoid these conceptual mistakes is to use the labor theory of value. JEL Classification: B51.

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“…Classic contributions include Morishima (1974); Duménil (1980); Roemer (1981); Foley (1982); and Flaschel (1983, 2010). For a discussion, see Yoshihara (2010, 2017).…”

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confidence: 99%

“…This is only for simplicity and all of the key insights of the paper can be extended to economies with different labour inputs. For a discussion see Veneziani and Yoshihara (2017a).…”

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confidence: 99%

The Theory of Exploitation as the Unequal Exchange of Labour

Veneziani

Yoshihara²

2018

Economics and Philosophy

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This paper analyses the normative and positive foundations of the theory of exploitation as the unequal exchange of labour (UEL). The key intuitions behind all of the main approaches to UEL exploitation are explicitly analysed as a series of formal claims in a general economic environment. It is then argued that these intuitions can be captured by one fundamental axiom -called Labour Exploitation -which defines the basic domain of all UEL exploitation forms and identifies the formal and theoretical framework for the analysis of the appropriate definition of exploitation.Keywords: Exploitation, Unequal Exchange of Labour, axiomatic analysis. * Paper submitted for the symposium on exploitation theory. We are grateful to participants in the Manchester Workshops in Political Theory and the QMUL workshops on exploitation theory (London, 2014 and 2015) for comments and suggestions on an earlier draft. Special thanks go to Ben Ferguson for long and detailed comments. The usual disclaimer applies.

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A Progress Report on Marxian Economic Theory: On the Controversies in Exploitation Theory Since Okishio (1963)

Cited by 4 publications

References 40 publications

The Transformation Problem of Values into Prices of Production: Marx Errors or an Inattentive Reading of 'Capital'?

The Transformation Problem of Values into Prices of Production: Marx Errors or an Inattentive Reading of 'Capital'?

Exploitation of Labor or Exploitation of Commodities?

The Theory of Exploitation as the Unequal Exchange of Labour

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