Labour as an Agent of Production: A Classical Economy Perspective

Rajasekharan Pillai

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Labour; labour power; abstract labour; concrete labour; Karl Max; Adam Smith; classical economy; division of labour (search for similar items in EconPapers)
JEL-codes: J00 J01 (search for similar items in EconPapers)
Date: 2010-12-13
New Economics Papers: this item is included in nep-hpe
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