Unproductive Labor and the Smile Curve

Clair Quentin

Review of Radical Political Economics, 2024, vol. 56, issue 2, 247-266

Abstract: A production boundary consistent with Marx’s theory of value may be drawn around labor that is quantitatively predicated by output at the point of exchange, as opposed to being merely causally predicated. The key difference between that production boundary and received Marxist doctrine on unproductive labor is that all other labor is excluded, rather than only such other labor that also falls to be treated as forming part of the “sphere of circulation.†Alternatively put, both sides of the “smile curve†are unproductive of value, rather than just the right-hand side. This conclusion substantiates the analytical nexus as between material production and global inequality to be found in critical global value chain literature. JEL Classification : B51, D43, D46, F66, O34

Keywords: global value chains; inequality; material production; intangible assets; value theory; unproductive labor (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:56:y:2024:i:2:p:247-266

DOI: 10.1177/04866134231197671

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