ABSTRACT
This chapter has sought to outline Marx’s theory of exploitation, comparing it with the recent contribution of Roemer. Since Marx regarded his theory of surplus-value to be hismain theoretical discovery, this is a debate of paramount importance. The Marxian theory of exploitation has not been subject to as much substantive evaluation from neoclassical, heterodox and Marxian economists in recent years, since greater emphasis has been placed on controversy over the labour theory of value. This has been because of the mistaken belief that the Marxian theory of exploitation relies upon a labour theory of value. Accordingly, the contribution of Roemer is especially welcome.
