...profits of their employer upon the whole stock of materials and wages which he advanced.'7 And again, 'The labour of a manufacturer adds generally to the...upon, that of his own maintenance and of his master's profit.'8 "If this, however," continues Lord Lauderdale, "was a just and accurate idea of the profit...

...(1723-90). In Book II of The Wealth of Nations (1776),' Smith explains: There is one sort of labour which adds to the value of the subject upon which...Thus the labour of a manufacturer adds, generally, The Wall of a Gallery pulled out, inclined Sixty Degrees from the Ground and sustained by Five People...

...produced only intangibles and did not directly add value, on the other. "There is one sort of labour which adds to the value of the subject upon which...called productive; the latter, unproductive labour." Productive labor "fixes and realizes itself in some particular subject or vendible commodity, which...

...184). Smith developed a test for productivity that prevailed a century later: productive labor is that "which adds to the value of the subject upon which it is bestowed" (1: 351). Yet Smith's was hardly the last word on this question. As John Stuart Mill notes in his Principles...

...destined for the maintenance of productive hands, tends to increase the number of those hands whose labour adds to the value of the subject upon which it is bestowed. It tends therefore to increase the exchangeable value of the annual produce of the land and labour...

...both as "labor." Smith responds to such questions in the following way: There is one sort of labour "which adds to the value of the subject upon •which...productive; the latter, unproductive labour. Thus the labor of a manufacturer adds, generally, to the value of the materials "which he "works upon, that...

...OF THE ACCUMULATION OF CAPITAL, OR OF PRODUCTIVE AND UNPRODUCTIVE LABOUR THERE is one sort of labour which adds to the value of the subject upon which it is bestowed: there is another which has BO such effect. The former, as it produces a value, may be called productive; the latter, unproductive...

...destined for the maintenance of productive hands, tends to increase the number of those hands whose labor adds to the value of the subject upon which it is bestowed. It tends therefore to increase the exchangeable value of the annual produce of the land and labor of...

...destined for the maintenance of productive hands, tends to increase the number of those hands whose labor t was conveyed to us; if fewer hands were employed in raisi It tends, therefore, to increase the exchangeable value of the annual produce of the land and labor...