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Commodity Content In A General Input–Output Model

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  • Takao Fujimoto
  • Arrigo Opocher

Abstract

This technical paper provides a definition of ‘commodity content’ in extended von Neumann–Morishima models of production. Our definition admits as special cases the classical definition of ‘labour values’ in Leontief models, as well as Morishima's definition of ‘optimal values’ in a von Neumann model. Proper joint production, heterogeneous labour, durable consumption goods, household activities and disposal processes are all allowed for. We also propose a tentative mathematical criterion for defining bads and for distinguishing between unskilled and skilled labour.

Suggested Citation

  • Takao Fujimoto & Arrigo Opocher, 2010. "Commodity Content In A General Input–Output Model," Metroeconomica, Wiley Blackwell, vol. 61(3), pages 442-453, July.
    • Handle: RePEc:bla:metroe:v:61:y:2010:i:3:p:442-453
    DOI: 10.1111/j.1467-999X.2009.04071.x
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    References listed on IDEAS

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    1. Morishima, Michio, 1974. "Marx in the Light of Modern Economic Theory," Econometrica, Econometric Society, vol. 42(4), pages 611-632, July.
    2. 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.
    3. 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.
    4. Bowles, Samuel & Gintis, Herbert, 1977. "The Marxian Theory of Value and Heterogeneous Labour: A Critique and Reformulation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 1(2), pages 173-192, June.
    5. 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.
    6. Baumol, William J & Wolff, Edward N, 1981. "Subsidies to New Energy," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 891-913, October.
    7. Ulrich Krause, 1981. "Heterogeneous Labour and the Fundamental Marxian Theorem," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 48(1), pages 173-178.
    8. Takao Fujimoto & Yukihiko Fujita, 2008. "A Refutation Of The Commodity Exploitation Theorem," Metroeconomica, Wiley Blackwell, vol. 59(3), pages 530-540, July.
    9. Antonio Manresa & Ferran Sancho & Josep Maria Vegara, 1998. "Measuring Commodities' Commodity Content," Economic Systems Research, Taylor & Francis Journals, vol. 10(4), pages 357-365.
    10. Christian Gehrke & Heinz D. Kurz, 2006. "Sraffa on von Bortkiewicz: Reconstructing the Classical Theory of Value and Distribution," History of Political Economy, Duke University Press, vol. 38(1), pages 91-149, Spring.
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    Cited by:

    1. Eiji B. Hosoda, 2014. "An Analysis of Sorting and Recycling of Household Waste: A neo-Ricardian Approach," Metroeconomica, Wiley Blackwell, vol. 65(1), pages 58-94, February.
    2. Roberto Veneziani & Naoki Yoshihara, 2011. "Strong Subjectivism In The Marxian Theory Of Exploitation: A Critique," Metroeconomica, Wiley Blackwell, vol. 62(1), pages 53-68, February.
    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 & 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.
    5. Roberto Veneziani & Naoki Yoshihara, 2010. "Exploitation and Profits: A General Axiomatic Approach in Convex Economies with Heterogeneous Agents," UMASS Amherst Economics Working Papers 2010-12, University of Massachusetts Amherst, Department of Economics.
    6. Yoshihara, Naoki & 吉原, 直毅 & ヨシハラ, ナオキ & Roberto Veneziani, 2011. "Exploitation of Labour and Exploitation of Commodities: A "New Interpretation"," Discussion Paper Series 556, Institute of Economic Research, Hitotsubashi University.
    7. Eiji Hosoda, 2016. "Interactive aspects of producers and waste-disposal firms out of a market boundary," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 5(1), pages 1-29, December.
    8. PARYS, Wilfried, 2018. "Labour values and energy values," Working Papers 2018006, University of Antwerp, Faculty of Business and Economics.
    9. Enrico Bellino, 2010. "Comment To ‘Commodity Content . . .’ By Fujimoto And Opocher," Metroeconomica, Wiley Blackwell, vol. 61(4), pages 749-753, November.

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