This chapter analyzes the concept of exploitation. It discusses the unstable correlation of exploitation, domination, and alienation. The Marxist problematic of exploitation has been oscillating between tendencies to essentially read it as domination, and tendencies to read it as alienation. It is inasmuch as we reopen the question of their overlapping and their interdependencies that we may reach a better understanding of what Marx contributes and what he leaves open for a critical articulation of the economic and the political in the present. The chapter argues that any rigorous use of the category “exploitation” should be subjected to a syntactic and semantic question that is a logical preliminary: who or what exploits whom or what? Moreover, exploitation has a history and it means nothing outside of its history: the emergence, development, and transformation of its forms, arising from their internal and external contradictions.