A Neoclassical Theory of Labor Exploitation: Some Comments

In this note, we comment on two aspects of the analysis presented in Eswaran's article "The Nature of Labor's Vulnerability to Exploitation." First, we compare Eswaran's neoclassical views of labor exploitation with the standard Marxian understanding of labor exploitation. Second, we delve deeper into Eswaran's model and raise a set of questions about his analysis.JEL Classification: P12, J22, B14