by Summary:
As is well known, Marx and the classical political economists before him made a distinction between productive and unproductive labor. Marx’s distinction is somewhat differed from Smith’s. For Marx, labor is productive when it is: (i) directly productive of surplus value; and (ii) exchanged directly against capital. I remain unsure how applicable the distinction is to a state money system. Some of my misgivings are explained in an earlier post. The uncertainty has held back an attempt to explore connections between Marx and Modern Monetary Theory (MMT). To get around this, here I proceed on an as if basis, by assuming for the sake of argument that the distinction is meaningful.... heteconomistProductive and Unproductive Labor in a Macro ContextPeter Cooper
Topics:
Mike Norman considers the following as important: expropriation, labor expropriation, Marxian Economics, productive labor, surplus value, unproductive labor
This could be interesting, too:
As is well known, Marx and the classical political economists before him made a distinction between productive and unproductive labor. Marx’s distinction is somewhat differed from Smith’s. For Marx, labor is productive when it is: (i) directly productive of surplus value; and (ii) exchanged directly against capital. I remain unsure how applicable the distinction is to a state money system. Some of my misgivings are explained in an earlier post. The uncertainty has held back an attempt to explore connections between Marx and Modern Monetary Theory (MMT). To get around this, here I proceed on an as if basis, by assuming for the sake of argument that the distinction is meaningful.... heteconomistProductive and Unproductive Labor in a Macro ContextPeter Cooper
Topics:
Mike Norman considers the following as important: expropriation, labor expropriation, Marxian Economics, productive labor, surplus value, unproductive labor
This could be interesting, too:
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As is well known, Marx and the classical political economists before him made a distinction between productive and unproductive labor. Marx’s distinction is somewhat differed from Smith’s. For Marx, labor is productive when it is: (i) directly productive of surplus value; and (ii) exchanged directly against capital. I remain unsure how applicable the distinction is to a state money system. Some of my misgivings are explained in an earlier post. The uncertainty has held back an attempt to explore connections between Marx and Modern Monetary Theory (MMT). To get around this, here I proceed on an as if basis, by assuming for the sake of argument that the distinction is meaningful....heteconomist
Productive and Unproductive Labor in a Macro Context
Peter Cooper