Exploitation: A Modern Approach

Robin Hahnel
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Robin Hahnel: Department of Economics, American University, Washington, DC, 20016; rhahnel@american.edu

Review of Radical Political Economics, 2006, vol. 38, issue 2, 175-192

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.

Keywords: Marx; labor theory of value; economic justice; exploitation; alienation (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:38:y:2006:i:2:p:175-192

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