Abstract

In his book A General Theory of Exploitation and Class, John Roemer employs the tools of mainstream general equilibrium and game-theoretic analysis to develop a fundamental critique and broadbased reformulation of Marxian economic theory. Perhaps Roemer's most striking departure from traditional Marxian tenets lies in his explanation of the material basis of exploitation in capitalist economies. Roemer argues that capitalist exploitation must be understood as essentially the consequence of exchange given differential ownership of relatively scarce productive assets. In particular, Roemer concludes that capitalist exploitation does not fundamentally depend on capitalist domination of production, or what Marx termed the subsumption of labor under capital.