Re: Re: RE: Re: Historical Materialism

[Carrol Cox <cbcox@xxxxxxxxx>]

I have never thought that the productive/unproductive labor opposition
was important -- but I wonder:

Doug Henwood wrote:
>
> Devine, James wrote:
>
> >But your book is suggesting that all of Wall Street is
> >involved in unproductive labor, Doug.
>
> But Wall Street is also about arranging the ownership of productive
> assets

This, precisely, is unproductive labor as Marx describes it: labor
iinvolved in the realization and distribution of surplus value.


 and allocating investment.

It's been a few years since I read your book, but I sort of remember it
as specifically claiming that Wall Street did NOT allocate investment.

Carrol
>
> Doug