Productive and Unproductive Labour - A Quote From Adam Smith

A Quote From Adam Smith

In Book 2, Chapter 3 of The Wealth of Nations, Adam Smith wrote:

"There is one sort of labour which adds to the value of the subject upon which it is bestowed; there is another which has no such effect. The former, as it produces a value, may be called productive; the latter, unproductive labour. Thus the labour of a manufacturer adds, generally, to the value of the materials which he works upon, that of his own maintenance, and of his master's profit. The labour of a menial servant, on the contrary, adds to the value of nothing. Though the manufacturer has his wages advanced to him by his master, he, in reality, costs him no expense, the value of those wages being generally restored, together with a profit, in the improved value of the subject upon which his labour is bestowed. But the maintenance of a menial servant never is restored. A man grows rich by employing a multitude of manufacturers; he grows poor by maintaining a multitude of menial servants. The labour of the latter, however, has its value, and deserves its reward as well" (Andrew Skinner edition 1974, p. 429-430).

Read more about this topic:  Productive And Unproductive Labour

Famous quotes containing the words adam smith, quote, adam and/or smith:

    The machines that are first invented to perform any particular movement are always the most complex, and succeeding artists generally discover that, with fewer wheels, with fewer principles of motion, than had originally been employed, the same effects may be more easily produced. The first systems, in the same manner, are always the most complex.
    Adam Smith (1723–1790)

    With proper attribution, to quote another’s thoughts and words is appropriate; plagiarism, however, is cheating, and it may break copyright law as well.
    Kenneth G. Wilson (1923)

    Let those talk of poverty and hard times who will in the towns and cities; cannot the emigrant who can pay his fare to New York or Boston pay five dollars more to get here ... and be as rich as he pleases, where land virtually costs nothing, and houses only the labor of building, and he may begin life as Adam did? If he will still remember the distinction of poor and rich, let him bespeak him a narrower house forthwith.
    Henry David Thoreau (1817–1862)

    What joy can the years bring half so sweet as the unhappiness they’ve taken away?
    —Logan Pearsall Smith (1865–1946)