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Services' In Marxian Economic Thought

Date Added: Sep 2009
Format: PDF

The services sector has grown as a share of GDP and employment in most countries in recent years, and there has been increasing interest in understanding this sector and in its growth potential. This paper analyses the meaning and nature of the 'Services sector' from a Marxian perspective. Marx did not analyse 'Services' as such (although he did discuss certain types of activities that are currently classified as services), and 'Sectors' are not the units of his economic analysis. From a Marxian approach, an activity needs to be analysed in terms of its location in the circuit of capital and its relationship with the production of surplus-value.