Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/202964 
Year of Publication: 
2019
Series/Report no.: 
Working Paper No. 2019-10
Publisher: 
University of Massachusetts, Department of Economics, Amherst, MA
Abstract: 
This paper presents an intertemporal model of pre-industrial economies defined with leisure preference to study the condition of the emergence and persistence of exploitation as unequal exchange of labor. We show that pure workers are exploited in any finite periods if there is positive real profit rate, even though labor allocation among agents tends to be equalized in the limit regardless of the saving behaviors. The so-called Fundamental Marxian Theorem and Profit-Exploitation Correspondence Principle are generalized in the intertemporal setting with exploitation in the whole life, and the Class-Exploitation Correspondence Principle is established with exploitation within period.
Subjects: 
Exploitation
Unequal Exchange of Labor
Persistence
Asymptotically Egalitarian
JEL: 
D51
D63
C61
B51
Document Type: 
Working Paper

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