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A Refutation Of The Commodity Exploitation Theorem

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  • Takao Fujimoto
  • Yukihiko Fujita

Abstract

This note is to show that the generalized commodity exploitation theorem put forward by Bowles and Gintis and Roemer is nothing but an alternative form of the Hawkins–Simon condition for given technical data, and that it has nothing to do with exploitation. That is, the Hawkins–Simon condition means a mere possibility of an economic system to produce a surplus in each commodity, and as such does not guarantee the existence of positive profits. To consider exploitation or the existence of positive profits, we need to introduce prices at which unequal exchanges may be carried out.

Suggested Citation

  • Takao Fujimoto & Yukihiko Fujita, 2008. "A Refutation Of The Commodity Exploitation Theorem," Metroeconomica, Wiley Blackwell, vol. 59(3), pages 530-540, July.
    • Handle: RePEc:bla:metroe:v:59:y:2008:i:3:p:530-540
    DOI: 10.1111/j.1467-999X.2008.00317.x
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    References listed on IDEAS

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    1. Herbert Gintis & Samuel Bowles, 1981. "Structure and Practice in the Labor Theory of Value," Review of Radical Political Economics, Union for Radical Political Economics, vol. 12(4), pages 1-26, January.
    2. Fujita, Yukihiko, 1991. "A further note on a correct economic interpretation of the Hawkins-Simon conditions," Journal of Macroeconomics, Elsevier, vol. 13(2), pages 381-384.
    3. Jeong, Ki-Jun, 1984. "The relation between two different notions of direct and indirect input requirements," Journal of Macroeconomics, Elsevier, vol. 6(4), pages 473-476.
    4. Jeong, Ki-Jun, 1982. "Direct and indirect requirements: A correct economic interpretation of the Hawkins-Simon conditions," Journal of Macroeconomics, Elsevier, vol. 4(3), pages 349-356.
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    Cited by:

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    3. Naoki Yoshihara & Roberto Veneziani, 2010. "Commodity Content In A General Input–Output Model: A Comment," Metroeconomica, Wiley Blackwell, vol. 61(4), pages 740-748, November.
    4. Roberto Veneziani & Luca Zamparelli & Naoki Yoshihara, 2017. "A Progress Report On Marxian Economic Theory: On The Controversies In Exploitation Theory Since Okishio (1963)," Journal of Economic Surveys, Wiley Blackwell, vol. 31(5), pages 1421-1448, December.
    5. Roberto Veneziani & Naoki Yoshihara, 2010. "Exploitation and Productiveness: The Generalised Commodity Exploitation Theorem Once Again," Bulletin of Political Economy, Bulletin of Political Economy, vol. 4(1), pages 45-58, June.
    6. Takao Fujimoto & Arrigo Opocher, 2010. "Commodity Content In A General Input–Output Model," Metroeconomica, Wiley Blackwell, vol. 61(3), pages 442-453, July.
    7. Deepankar Basu, 2023. "Exploitation of Labor or Exploitation of Commodities?," Review of Radical Political Economics, Union for Radical Political Economics, vol. 55(2), pages 233-250, June.

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