Resource title

Uncertainty and exploitation in history

Resource image

image for OpenScout resource :: Uncertainty and exploitation in history

Resource description

The paper builds on the Marxist concept of exploitation to explore the meaning of the Post Keynesian notion of uncertainty. Uncertainty is mediated by institutions and is distributed unevenly among different social groups. As different historical social formations entail different institutional structures, the distribution and nature of uncertainty also differ. The configurations between class relations and uncertainty are analyzed for the capitalist, feudal and slave modes of production. It is demonstrated that modes of production do not only imply specific exploitative relations but also different relative distributions of uncertainty amongst classes. Joining Marxian and Post Keynesian approaches allows a richer understanding of exploitive relations and illuminates the full societal impact of uncertainty. It is shown that only in capitalism is the exploited class exposed to a substantial degree of economic uncertainty. (author's abstract) ; Series: Department of Economics Working Paper Series

Resource author

Engelbert Stockhammer, Paul Ramskogler

Resource publisher

Resource publish date

Resource language

en

Resource content type

application/pdf

Resource resource URL

http://epub.wu.ac.at/82/1/document.pdf

Resource license

Adapt according to the license agreement. Always reference the original source and author.