product and profit of labor
- product and profit of labor
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A term of art.
As the expression is used in a statute prohibiting the product and profit of convict labor, the words do not refer to articles of property, but to the net value of labor. A manufactured article is not known in common parlance, in law or in political economy, as the product of labor. Labor enters into its production, but is often an insignificant element. The article is the product of raw material and labor combined, or, as it is commonly expressed, labor and capital. People v Hawkit-, 157 NY 1, 51 NE 257.
Ballentine's law dictionary.
Anderson, W.S..
1998.
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