COMMODITY CONTENT IN A GENERAL INPUT-OUTPUT MODEL

This technical paper provides a definition of 'commodity content' in extended von Neumann-Morishima models of production. Our definition admits as special cases the classical definition of 'labour values' in Leontief models, as well as Morishima's definition of 'optimal values' in a von Neumann model. Proper joint production, heterogeneous labour, durable consumption goods, household activities and disposal processes are all allowed for. We also propose a tentative mathematical criterion for defining bads and for distinguishing between unskilled and skilled labour. Copyright © 2009 Blackwell Publishing Ltd.