ABSTRACT
Until the middle of the eighteenth century, therefore, there were two approaches in the literature on productive labour: the first, which dominated, was dynamic and developmental; the other had static, rigid elements. In the second half of the century these two approaches gave rise to two separate tendencies: the first, which continued to be based on the production of goods (or use values), provided its best analyses in this period, but quickly faded out in the 1770s. The second, based on the production of value, is that of Smith.
