Exploitation and Profits: A General Axiomatic Approach in Convex Economies with Heterogeneous Agents
Exploitation and Profits: A General Axiomatic Approach in Convex Economies with Heterogeneous AgentsThis version: September 2010 This paper provides an innovative axiomatic analysis of the notion of exploitation as the unequal exchange of labour, focusing on the relation between exploitation and profits. General convex economies with heterogeneous agents endowed with unequal amounts of physical and human capital are considered.
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