Arbeitspapier
Growth, exploitation and class inequalities
This paper provides a formal dynamic analysis of exploitation, class inequalities and profits. A stylised model of a capitalist economy with two classes - workers and capitalists - is considered which extends Roemer [21, 22]. First, a dynamic generalisation of a key Marxian insight is provided by proving that the profitability of capitalist production is synonimous with the existence of exploitation. Second, it is shown that, in a competitive environment, asset inequalities are fundamental for the emergence of exploitation, but they are not sufficient for its persistence, both in equilibria with accumulation and growth, and, perhaps more surprisingly, in stationary intertemporal equilibrium paths. Finally, it is shown that labour-saving technical progress may yield persistent exploitation by ensuring the persistent abundance of labour.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 814
- Klassifikation
-
Wirtschaft
General Aggregative Models: Marxian; Sraffian; Kaleckian
Exchange and Production Economies
Equity, Justice, Inequality, and Other Normative Criteria and Measurement
Optimization Techniques; Programming Models; Dynamic Analysis
History of Economic Thought since 1925: Socialist; Marxist; Sraffian
- Thema
-
Dynamics
Accumulation
Exploitation
Classes
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Galanis, Giorgos
Veneziani, Roberto
Yoshihara, Naoki
- Ereignis
-
Veröffentlichung
- (wer)
-
Queen Mary University of London, School of Economics and Finance
- (wo)
-
London
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:46 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Galanis, Giorgos
- Veneziani, Roberto
- Yoshihara, Naoki
- Queen Mary University of London, School of Economics and Finance
Entstanden
- 2017
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