Doug Henwood dhenwood at
Fri Sep 23 11:34:20 MDT 1994

By these definitions, is a banker productive? The banker's manicurist? An
advertising copywriter? A Hollywood image consultant?


Doug Henwood [dhenwood at]
Left Business Observer
212-874-4020 (voice)
212-874-3137 (fax)

On Fri, 23 Sep 1994, Fred B. Moseley wrote:

> Hi Doug,
> My interpretation is that productive labor is that which produces
> surplus-value for capital.  This is not exactly the same as labor
> whic produces a vendible commodity, because the latter also includes
> self-employed producers.  Smith - but not Marx - also had a third
> definition which adds to the confusion - labor which produces a
> MATERIAL (physical) commodity.  As you probably know, Marx discussed
> Smith's definitions of productive labor in volume 1 of Theories of
> Surplus-Value.
> Cheers,m
> Fred


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