Date: Fri, 23 Sep 1994 10:55:13 -0400
From: fmoseley-AT-mhc.mtholyoke.edu (Fred B. Moseley)
Subject: Re: introduction


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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