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A PROGRESS REPORT ON MARXIAN ECONOMIC THEORY: ON THE CONTROVERSIES IN EXPLOITATION THEORY SINCE OKISHIO ([Okishio, N., 1963])
Author(s) -
Yoshihara Naoki
Publication year - 2017
Publication title -
journal of economic surveys
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.657
H-Index - 92
eISSN - 1467-6419
pISSN - 0950-0804
DOI - 10.1111/joes.12151
Subject(s) - axiom , neoclassical economics , economics , relation (database) , wright , class (philosophy) , mathematical economics , property (philosophy) , positive economics , epistemology , mathematics , philosophy , computer science , geometry , database , programming language
This report explores the development of exploitation theory in mathematical Marxian economics by reviewing the main controversies surrounding the proper definition of exploitation since the contribution of Okishio. The report first examines the debates on the Fundamental Marxian Theorem and Class‐Exploitation Correspondence Principle, developed mainly in the 1970s and 1980s, followed by the property relation theory of exploitation by Roemer. Then, the more recent exploitation theory proposed by Vrousalis and Wright is introduced. Finally, the report introduces and comments on recent axiomatic studies of exploitation by focusing on the work of Veneziani and Yoshihara.