Labour as an Agent of Production: A Classical Economy Perspective

Pillai, Rajasekharan (2010): Labour as an Agent of Production: A Classical Economy Perspective.

Abstract

Seminal works on labour and its contribution to the economy were attempted by classical economists. The classical political economy considered labour as the sole source of value, and only it can create an addition. The predominance of ascribed it as basis of all social life. This paper reviews the works of two classical political economy writers: Marx and Smith.

• Item Type: MPRA Paper
• Language: English
• Keywords: Labour, labour power, abstract labour, concrete labour, Karl Max, Adam Smith, classical economy, division of labour
• Subjects: J - Labor and Demographic Economics > J0 - General > J00 - General; J - Labor and Demographic Economics > J0 - General > J01 - Labor Economics: General

References

Burrell, G. (1990): Fragmented Labours, in Knights, D. & H. Willmott (eds): Labour Process Theory, London: Macmillan. pp. 274-96.

Kaufman, B. E. & J. L. Hotchkiss (2003): The Economics of Labour Markets, Austria: Thomson South-western.

Marx, K. (1840): Wage Labour and Capital, available at http://www.marxists.org/archive/ marx/works/1840/wage-lab/index.htm, accessed on 10/03/2006.

Marx, K. (1867): Capital; Volume One; The Process of Production of Capital, available at http://www.marxists.org/archive/marx/works/1867-c1/index.htm, accessed on 10/03/2006

Smith, A. (1776): An Enquiry into the Nature and Causes of Wealth of Nations, available at http://www.marxists.org/reference/archive/smith-adam/works/wealth-of-nations/ index.htm, accessed on 10/03/2006.