Globalisation and inequality: A dynamic general equilibrium model of unequal exchange

Arbeitspapier

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 is derived in equilibrium.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Working Paper ; No. 2016-07

Classification and Topics

• Classification: Wirtschaft ; Equity, Justice, Inequality, and Other Normative Criteria and Measurement ; International Economic Order and Integration ; Current Heterodox Approaches: Socialist; Marxian; Sraffian
• Subject: Exploitation ; classes ; unequal exchange ; international economy ; Marxismus ; Soziale Schicht ; Verteilungsgerechtigkeit ; Internationale Wirtschaft

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Veneziani, Roberto ; Yoshihara, Naoki
• Event: Veröffentlichung
• (who): University of Massachusetts, Department of Economics
• (where): Amherst, MA
• (when): 2016

Further information

• Handle: http://hdl.handle.net/10419/174399
• Last update: 10.03.2025, 11:43 AM CET