>The productive/unproductive distinction is theoretically important,
>however. The profits of
>unproductive capitalists--bankers, landlords, merchants--come from
>the sum of already existing values.
I believe you are mistaken. This capital is invested in distribution, which certainly increases value.
>These values are simply transferred from the pockets of creditors,
>tenants, customers, into theirs.
>The increment of value realized by the owner of an auto plant, on
>the other hand, represents newly created value.
Surely there is some value in organising to get the product from the end of the production line into the hands of the consumer? Or indeed in planning what to produce things in the first place? These industries will always be essential in some form. Otherwise, if no value were being added, surely no labour input would be required at all?
Bill Bartlett Bracknell Tas