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Of the Accumulation of Capital, or of productive and


unproductive Labour.

HERE is one fort of labour which BOOK



adds to the value of the fubject upon c HA P. which it is bestowed: there is another which has no fuch effect. The former, as it produces a value, may be called productive; the latter, unproductive labour. Thus the labour of a manufacturer adds, generally, to the value of the materials which he works upon, that of his own

* Some French authors of great learning and ingenuity have used those words in a different fenfe. In the last chapter of the fourth book, I shall endeavour to fhow that their fenfe

is an improper one.


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BOOK maintenance, and of his master's profit. The labour of a menial fervant, on the contrary, adds to the value of nothing. Though the manufacturer has his wages advanced to him by his master, he, in reality, costs him no expence, the value of those wages being generally restored, together with a profit, in the improved value of the subject upon which his labour is bestowed. But the maintenance of a menial fervant never is reftored. A man grows rich by employing á multitude of manufacturers: he grows poor, by maintaining a multitude of menial fervants. The labour of the latter, however, has its value, and deferves its reward as well as that of the former. But the labour of the manufacturer fixes and realizes itself in fome particular fubject or vendible commodity, which lafts for fome time at least after that labour is paft. It is, as it were, a certain quantity of labour stocked and stored up to be employed, if neceffary, upon fome other occafion. That fubject, or what is the fame thing, the price of that fubject, can afterwards, if neceffary, put into motion a quantity of labour. equal to that which had originally produced it. The labour of the menial fervant, on the contrary, does not fix or realize itself in any particular fubject or vendible commodity. His fervices generally perish in the very inftant of their performance, and feldom leave any trace or value behind them, for which an equal quantity of fervice could afterwards be procured.

THE labour of fome of the most refpectable orders in the fociety is, like that of menial fer

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