Pollock argued service-industry surplus value could prolong capitalism indefinitely.

Evidence

Pollock, the other leading economist in the Institut, was quick to challenge Grossmann on other grounds. Stressing the inadequacy of Marx’s concept of productive labor because of its neglect of nonmanual labor, Pollock pointed to the service industries, which were becoming increasingly important in the twentieth century. Surplus value might be extracted from workers in these industries as well as from those producing commodities, he argued, which would prolong the life of the system. Grossmann’s stand continued basically un changed, however, and he and Pollock remained at odds on economic questions until Grossmann left the Institut after the Second World War. — Martin Jay, The Dialectical Imagination, 132

Categorization

• XREF: Sets up Pollock’s later state-capitalism theory and his break with orthodox collapse predictions, key to the Institute’s evolution. — connects to: Service industries can extract surplus value and prolong capitalism’s viability — Martin Jay, The Dialectical Imagination: A History…, 132
• QUESTION: Pollock here argues services prolong capitalism — worth noting how this relates to the later ‘organized capitalism’ thesis elaborated in exile.

Broader Connections

• Service industries can extract surplus value and prolong capitalism’s viability #corroborates (0.95) — Martin Jay, The Dialectical Imagination, 132