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COMMODITY CONTENT IN A GENERAL INPUT–OUTPUT MODEL: A COMMENT
Author(s) -
Yoshihara Naoki,
Veneziani Roberto
Publication year - 2010
Publication title -
metroeconomica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.256
H-Index - 29
eISSN - 1467-999X
pISSN - 0026-1386
DOI - 10.1111/j.1467-999x.2010.04091.x
Subject(s) - commodity , aside , economics , value (mathematics) , relation (database) , positive economics , microeconomics , neoclassical economics , mathematical economics , computer science , market economy , philosophy , linguistics , database , machine learning
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.