Ever heard of exploitation labor? Exploitation of labour is the act of treating ones workers unfairly for ones own benefit
I understand the concept, but I've never witnessed it here where I live, could you tell me more?
Actually, I can. It is a social relationship based on a fundamental asymmetry in a power relationship between workers & their employers...
If I'm understanding you correctly, another term for this would be slave labour? Is this as abundant in the "first world" as it is in "third world" countries?
It is; just is underground. Traditionally, this would label exploitation as unfairly taking advantage of another person because of his or her inferior position, giving the exploiter the power 99.9% of the time
The 0.01% would be for those workers living in countries or states with fairer work laws, correct?
The nature and power of organized labor is the outcome of historical tensions among counter-acting forces involving workplace rights, wages, working hours, political expression, labor laws, and other working conditions