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The word service, from a linguistic approach, can be traced back to the Latin word ‘servus’, slave. This paper, from a historical and economic perspective, regards the works of Adam Smith, Karl Marx and John Stuart Mill. For Adam Smith, the focus of analysis is capital accumulation; capital is recognised by its durability and tangibility. In this approach, services are seen as useful but not as creating wealth. The value is created only with manifest and durable goods: value is capital accumulation. Karl Marx agreed with Adam Smith on this basic issue. To him, services had no value except for the value of the work that went into them. John Stuart Mill recognised that services could indirectly contribute to capital accumulation
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The word service, from a linguistic approach, can be traced back to the Latin word ‘servus’, slave. This paper, from a historical and economic perspective, regards the works of Adam Smith, Karl Marx and John Stuart Mill. For Adam Smith, the focus of analysis is capital accumulation; capital is recognised by its durability and tangibility. In this approach, services are seen as useful but not as creating wealth. The value is created only with manifest and durable goods: value is capital accumulation. Karl Marx agreed with Adam Smith on this basic issue. To him, services had no value except for the value of the work that went into them. John Stuart Mill recognised that services could indirectly contribute to capital accumulation.
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Rada, J.1
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