Definitions for exploitation theory
ex·ploita·tion the·o·ry

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1. exploitation theory

   Exploitation of labour (or labor) is a concept defined as, in its broadest sense, one agent taking unfair advantage of another agent. It denotes an unjust social relationship based on an asymmetry of power or unequal exchange of value between workers and their employers. When speaking about exploitation, there is a direct affiliation with consumption in social theory and traditionally this would label exploitation as unfairly taking advantage of another person because of their inferior position, giving the exploiter the power.Karl Marx's theory of exploitation has been described in the Stanford Encyclopedia of Philosophy as the most influential theory of exploitation. In analyzing exploitation, economists are split on the explanation of the exploitation of labour given by Marx and Adam Smith. Smith did not see exploitation as an inherent systematic phenomenon in specific economic systems as Marx did, but rather as an optional moral injustice.

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1. Exploitation theory

   The exploitation theory is the theory, most associated with Marxists, that profit is the result of the exploitation of wage earners by their employers. It rests on the labor theory of value which claims that value is intrinsic in a product according to the amount of labor that has been spent on producing the product. Thus the value of a product is created by the workers who made that product and reflected in its finished price. The income from this finished price is then divided between labor, capital, and expenses on raw materials. The wages received by workers do not reflect the full value of their work, because some of that value is taken by the employer in the form of profit. Therefore, "making a profit" essentially means taking away from the workers some of the value that results from their labor. This is what is known as capitalist exploitation. The theory has been opposed by, among others Eugen von Böhm-Bawerk. In History and Critique of Interest Theories. He argues that capitalists do not exploit their workers; they actually help employees by providing them with an income well in advance of the revenue from the goods they produced, stating "Labor cannot increase its share at the expense of capital." In particular, he argues that the theory of exploitation ignores the dimension of time in production. From this criticism it follows that, according to Böhm-Bawerk, the whole value of a product is not produced by the worker, but that labour can only be paid at the present value of any foreseeable output.

How to pronounce exploitation theory?

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How to say exploitation theory in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of exploitation theory in Chaldean Numerology is: 3

2. Pythagorean Numerology

   The numerical value of exploitation theory in Pythagorean Numerology is: 8

References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Exploitation_Theory
2. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=exploitation theory