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Full-Text Articles in Social and Behavioral Sciences
Skill Differences And Wage-Effort Relationship: Who Are More Exploited, High-Skilled Or Low-Skilled Workers?, Hyun Woong Park, Dong–Min Rieu
Skill Differences And Wage-Effort Relationship: Who Are More Exploited, High-Skilled Or Low-Skilled Workers?, Hyun Woong Park, Dong–Min Rieu
Economics Department Working Paper Series
Who are more exploited, high-skilled or low-skilled workers? We address this question using the efficiency wage model with skill differentials incorporated. We perform simulations to find the Nash equilibrium numerically, and our central results are the following. First, higher-skilled workers are offered higher wages but exert less effort, and in particular the skill-wage relationship matches the observed data on wage inequality of the U.S. Second, we employ two measures of the degree of exploitation. On the one hand, the ratio between effort and wage the higher-skilled workers experience is lower than that of lower-skilled workers. This is due to their …
The Theory Of Exploitation As The Unequal Exchange Of Labour, Roberto Veneziani, Naoki Yoshihara
The Theory Of Exploitation As The Unequal Exchange Of Labour, Roberto Veneziani, Naoki Yoshihara
Economics Department Working Paper Series
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.
Globalisation And Inequality: A Dynamic General Equilibrium Model Of Unequal Exchange, Naoki Yoshihara, Roberto Veneziani
Globalisation And Inequality: A Dynamic General Equilibrium Model Of Unequal Exchange, Naoki Yoshihara, Roberto Veneziani
Economics Department Working Paper Series
A dynamic general equilibrium model that generalises Roemer's [23] economy with a global capital market is analysed. An axiomatic analysis of the concept of unequal exchange (UE) between countries is developed at general dynamic equilibria. The class of UE definitions that satisfy three fundamental properties - including a correspondence between wealth, class and UE exploitation status - is completely characterised. It is shown that this class is nonempty and a definition of UE exploitation between countries is proposed, which is theoretically robust and firmly anchored to empirically observable data. The full class and UE exploitation structure of the international economy …
The Dynamics Of Exploitation And Class In Accumulation Economies, Jonathan F. Cogliano, Roberto Veneziani, Naoki Yoshihara
The Dynamics Of Exploitation And Class In Accumulation Economies, Jonathan F. Cogliano, Roberto Veneziani, Naoki Yoshihara
Economics Department Working Paper Series
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 investigated, and the role of labour-saving technical change and, even more importantly, power is highlighted. Second, it is shown that the concept of exploitation provides the foundations for a logically coherent and empirically relevant analysis of inequalities and class relations in advanced capitalist economies. An index that identifies the exploitation level, or intensity of each individual can be defined and …
Exploitation And Profits: A General Axiomatic Approach In Convex Economies With Heterogeneous Agents, Roberto Veneziani, Naoki Yoshihara
Exploitation And Profits: A General Axiomatic Approach In Convex Economies With Heterogeneous Agents, Roberto Veneziani, Naoki Yoshihara
Economics Department Working Paper Series
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 considered. An axiomatic characterisation of the class of definitions that preserve the Fundamental Marxian Theorem (FMT) in this general context is derived. It is shown that none of the main received definitions preserves the FMT. Instead, a definition related to the `New Interpretation' (Dumenil, 1980; Foley, 1982) is presented which preserves the FMT and allows one to generalise …
Ideological State Apparatuses, Consumerism, And U.S. Capitalism: Lessons For The Left, Richard D. Wolff
Ideological State Apparatuses, Consumerism, And U.S. Capitalism: Lessons For The Left, Richard D. Wolff
Economics Department Working Paper Series
Althusser’s pioneering concept of “ideological state apparatuses” is extended to the unique role of consumerism as a particular ideology enabling and supporting U.S. capitalism. It is argued that rising levels of worker consumption have functioned effectively to compensate workers for (and thereby allow) rising rates of exploitation and their negative social effects. For such compensation to succeed requires that workers embrace an ideology stressing the importance of consumption, namely consumerism. It is argued that the weakness of the US left (in labor unions, parties, and movements) stems in part from having endorsed this consumerism rather than undermining it within the …