Capable of being used or taken advantage of, especially in a way that benefits one person at the expense of another.
From 'exploit' (from Latin 'explicare' to unfold, then Old French 'exploiter' to work/use) + English '-able' (capable of). The meaning shifted from 'workable' to 'usable for profit'.
Workers' rights movements were built on recognizing that people are 'exploitable'—once that word was commonly used, it became a rallying cry for labor reform, as saying someone is exploitable implies they *shouldn't* be.
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