Definitions in Political Economy,: Preceded by an Inquiry Into the Rules which Ought to Guide Political Economists in the Definition and Use of Their Terms; with Remarks on the Deviation from These Rules in Their WritingsMalthus, T. R. (Thomas Robert)
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Definitions in Political Economy,: Preceded by an Inquiry Into the Rules which Ought to Guide Political Economists in the Definition and Use of Their Terms; with Remarks on the Deviation from These Rules in Their Writings
Malthus, T. R. (Thomas Robert)
Classical school of economics; Economics
Now, Adam Smith was inquiring into the nature and causes of the wealth
of nations; and having confined the term _wealth_ to material objects,
and described human labour as the main source of wealth, he clearly saw
the necessity of making some distinction between those different kinds
of labour which, without reference to their utility, he could not but
observe had the most essentially distinct effects, in directly causing
that wealth, the nature of which he was investigating. He called one of
these kinds of labour _productive_, or productive of wealth, and the
other _unproductive_, or not productive of wealth; and knowing that it
would occasion interminable confusion, and break down all the barriers
between production and consumption, to attempt to estimate the
circumstances which might _indirectly_ contribute to the production of
wealth, he described productive labour in such a way, as to leave no
doubt that he meant the labour which was so directly productive of
wealth, as to be estimated in the quantity or value of the material
object produced.
In his application of the terms _productive_ and _unproductive_,
therefore, he does not seem to have violated the usage of common
conversation and writing; and it appears to me, that, if we fully and
impartially consider the consequences of making no distinction between
different kinds of labour, we must feel the conviction that the terms
which he has adopted are pre-eminently useful for the purpose to which
they are applied—that is, to enable him to explain, intelligibly and
satisfactorily, the causes of the wealth of different nations, according
to the ordinary meaning which men attach to the term wealth, whatever
may be their theories on the subject.
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