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Exploitation: A Modern Approach

Author

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  • Robin Hahnel

    (Department of Economics, American University, Washington, DC, 20016; rhahnel@american.edu)

Abstract

Political economists who have abandoned the Marxian labor theory of value during the past few decades due to logical inconsistencies have failed to replace it with a logically sound theory that explains how and why the employment relationship is almost always exploitative even when labor markets are competitive. This article argues for a sacrifice-based theory of economic justice rather than the contribution-based theory implicit in the Marxian labor theory of value and uses a simple theoretical framework to explain not only why the employment relationship is exploitative but also why credit relations and goods trading can be exploitative as well.

Suggested Citation

  • Robin Hahnel, 2006. "Exploitation: A Modern Approach," Review of Radical Political Economics, Union for Radical Political Economics, vol. 38(2), pages 175-192, June.
    • Handle: RePEc:sae:reorpe:v:38:y:2006:i:2:p:175-192
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    Citations

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    Cited by:

    1. Galanis, Giorgos & Veneziani, Roberto & Yoshihara, Naoki, 2019. "The dynamics of inequalities and unequal exchange of labor in intertemporal linear economies," Journal of Economic Dynamics and Control, Elsevier, vol. 100(C), pages 29-46.
    2. John B. Davis & Wilfred Dolfsma (ed.), 2015. "The Elgar Companion to Social Economics, Second Edition," Books, Edward Elgar Publishing, number 15954.
    3. Weikai Chen & Naoki Yoshihara, 2019. "Persistent Exploitation with Intertemporal Reproducible Solution in Pre-industrial Economies," UMASS Amherst Economics Working Papers 2019-10, University of Massachusetts Amherst, Department of Economics.

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