Abstract
We investigate Adam Smith’s analysis of the properties of what he called “productive” - as against “unproductive” - labour, a concept which commentators have frequently found problematic. Puzzles have been noted and inconsistency alleged. A question arises – did Smith confuse two different concepts of productive labour? We believe that, despite the apparent problems, a coherent reading of Smith’s account of productive and unproductive labour is in fact possible: if “productive labour” is understood to refer comprehensively to labour which not only maintains but, through producing a net surplus, adds to the community’s stock of wealth – as regards either the financial or the real resources which make possible economic growth – the difficulties with Smith’s treatment largely disappear.
Original language | English |
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Place of Publication | Glasgow |
Publisher | University of Strathclyde |
Pages | 1-27 |
Number of pages | 28 |
Volume | 13 |
Publication status | Published - 2013 |
Keywords
- productive/unproductive labour
- basic/non-basic goods
- surplus production