A Reconsideration of the Theory of Exploitation

Abstract

Introduction: popular misconceptions, 413. — Definitions: exploitation, 414; marginal product, 415; the wage of labor, 418. — Classification of exploitation, 419. — Non-deliberate exploitation: rising labor supply curve, 419; the cost of change, 420; discontinuous product demand curves, 423; stability of price under mature and immature oligopoly, 426. — Deliberate exploitation: monopsonistic discrimination, 434; the “sweated industry” fallacy, 434; conditions necessary for the existence of deliberate exploitation, 437. — The importance of exploitation, 439. — The rôle of unions, 440.