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Commodity Content In A General Input–Output Model: A Comment

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  • Naoki Yoshihara
  • Roberto Veneziani

Abstract

This paper critically analyses the approach to the determination of values, or commodity contents, developed by Fujimoto and Opocher in 2009. Even setting aside various problematic definitional issues, the broader implications of the approach for classical theory are unclear. First, the value‐theoretic definitions of skill differentials and bads capture at best necessary conditions and it is unlikely that such definitions can be provided by focusing only on the technological data of the economy. Second, the approach has various interesting implications concerning the relation between productiveness and exploitation that directly contradict some of the authors' claims.

Suggested Citation

  • 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.
    • Handle: RePEc:bla:metroe:v:61:y:2010:i:4:p:740-748
    DOI: 10.1111/j.1467-999X.2010.04091.x
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    References listed on IDEAS

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    1. Takao Fujimoto & Arrigo Opocher, 2010. "Commodity Content In A General Input–Output Model," Metroeconomica, Wiley Blackwell, vol. 61(3), pages 442-453, July.
    2. Takao Fujimoto & Yukihiko Fujita, 2008. "A Refutation Of The Commodity Exploitation Theorem," Metroeconomica, Wiley Blackwell, vol. 59(3), pages 530-540, July.
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    Cited by:

    1. Naoki Yoshihara & Roberto Veneziani, 2013. "The Measurement of Labour Content: A General Approach," Working Papers 704, Queen Mary University of London, School of Economics and Finance.
    2. 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.
    3. 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.
    4. PARYS, Wilfried, 2018. "Labour values and energy values," Working Papers 2018006, University of Antwerp, Faculty of Business and Economics.

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    More about this item

    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian

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