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Abstract We experimentally elicit views of what exploitation is from over 2,000 subjects. Our experimental design does not test existing theories of exploitation. Rather, it focuses on more fundamental properties that are the building blocks for these theories. We find, first, that exploitation is not a vacuous concept: Not all economic interactions are deemed exploitative. Second, contrary to several of the major approaches in the literature, both inequalities in the distribution of economic gains and asymmetric power relations contribute to exploitative relations. What matters most is the interaction of power and inequality: The effect of both elements together is significantly greater than the sum of each on their own. Finally, and perhaps remarkably, we found no major differences in exploitation ascriptions between experts and lay subjects. These findings have implications for the ethics of employment contracts, particularly in the context of sweatshop labor.