Re: Productive and Unproductive Labor

[wpc@xxxxxxxxxxxxxxxxx (Paul Cockshott)]

Paul Z:
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Paul, for me, this is prime example of unproductive labor, serving only a
bourgeoise accounting function (transfering funds).

Defining unproductive labor in a meaningful way has dramatic implications
for estimates of the magnitude of the rate of surplus value (as
demonstrated by Ed Wolff's earlier work, and Anwar Shaikh's recent book).

Paul C
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Basically I agree with you. When constructing time series for
the rate of surplus value in Britain - such as those recently
published in Capital and Class - I try and treat the whold
wages of the banking sector as unproductive.

In the paragraph you quoted, I was just trying to show that
even if one made the most generous assumptions, bank labour
would, by the banks own accounts be unproductive.
But I am not usually willing to make such generous assumptions.


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