Rylan Chinnock , Department of Economics, University of Massachusetts Roberto Veneziani , School of Economics and Finance, Queen Mary University of London Naoki Yoshihara , Department of Economics, University of Massachusetts
January 29, 2024
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In this paper we review recent developments in axiomatic studies of Marxian exploitation theory. First, given the acute controversy over the formal definition of exploitation during the 1970-1990s, we review the study of the axiomatic framework, which identifies some fundamental properties – technically, domain conditions – that any definition of exploitation should satisfy. Moreover, we provide a survey on the axiomatic studies about the proper measures of exploitation which coherently preserve the basic Marxian perceptions represented by two axioms, Profit- Exploitation Correspondence Principle and Class-Exploitation Correspondence Principle. Finally, we examine the relevance of the labour theory of value in these axiomatic studies of the proper measures of exploitation.
J.E.L classification codes: D63; D51.
Keywords:Axiomatic analysis; Labour Exploitation; Profit-Exploitation Correspondence Principle; Class-Exploitation Correspondence Principle; Labour Theory of Value.