Research On The Productive Labor Theory And Its Realistic Implications

The Productive Labor Theory is an important component of Marxist Political Economy and Marx came creatively up with the issue of Productive Labor when he explained and criticized ex-figures'views. Later economists hold different views while understanding the essence of this theory. It has become a long-existing and major theoretical argument of Political Economy, resulting in ever-increasing debates and controversies in economic circle.In this paper, the viewpoints both of the classical political economy and of scholars home and abroad in recent years have been analyzed and summarized. The definitions of Productive Labor by Marx have been analyzed, no matter they are general or specific. As the standpoints about the relation between Productive Labor and value creation vary among scholars, the difference between Productive Labor and value-creating labor has been clarified. On the basis of the mentioned analysis, the standard about the distinction between the productive labor and unproductive labor in system of socialist market economy is re-recognized. Productive Labor should possess two characteristics, that is to say, one is materiality, another value rise. At the same time, the productbility of each sector in the service industry has been analyzed because of the long-lasting debates among the domestic and foreign scholars on the productbility of the service industry. Summing up some practice and lesson from the advancement of service industry in developed countries, this paper, with Productive Labor Theory, offers many constructive suggestions for the sound development of China's service industry.The development of the service industry in china should follow the development of primary and secondary industry. Because the productbility of the sectors in service industry differs, so are the roles in both the function and importance they play. For this reason, much attention should be paid on the internal structure adjustment in service industry.