What's right with exploitation? Capital has been able to achieve historically unprecedented levels of exploitation through compelling the capitalization of surplus value, the development of the productive forces, the laying of the basis for a higher form of society. [WS:] Another way of looking at it is that extraction and capitalization of surplus value per se is a good thing, because it allows investment. Without it, all surplus value would be used up on primitive consumption and little social progress would be possible.
Exploitation enters the picture only with the use of the extracted and capitalized surplus. If the surplus is used for essentially private consumption and transaction costs of capitalists - it is exploitation. However, if it is used for general benefit of society as a whole (investment in public goods, etc.) - it is a mechanism of social progress.
Wojtek