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Unproductive Labor and the Smile Curve

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  • Clair Quentin

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

Suggested Citation

  • Clair Quentin, 2024. "Unproductive Labor and the Smile Curve," Review of Radical Political Economics, Union for Radical Political Economics, vol. 56(2), pages 247-266, June.
    • Handle: RePEc:sae:reorpe:v:56:y:2024:i:2:p:247-266
    DOI: 10.1177/04866134231197671
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    More about this item

    Keywords

    global value chains; inequality; material production; intangible assets; value theory; unproductive labor;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • F66 - International Economics - - Economic Impacts of Globalization - - - Labor
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital

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