In Exploitation: What It Is and Why It's Wrong (2003), I argued that the major non‐Marxist “ethically thick” approaches to exploitation were not successful in capturing what we find morally objectionable in paradigmatic cases of exploitation. My argument there focused on the consequentialist account of exploitation defended by Robert Goodin. Here I revisit the question of whether the recent multi‐level act consequentialist account of exploitation defended by Richard Arneson is successful. I raise questions about the nature of the account, and (...) conclude that it is a possibly coherent and ultimately inadequate account of the wrongness of exploitation. (shrink)