What is the difference between myeloproliferative disorders and myelodysplastic syndrome?

Bottom line:  Myeloproliferative diseases are characterized by large numbers of abnormal blood cells (red, white or platelets) growing and spreading in bone marrow and blood.  On the other hand, myelodysplastic syndrome includes various clonal hemopathies characterized by decreased production of blood cells and are associated with a risk for development of acute leukemia. 

Summary:
Table 108–1 WHO Classification of Chronic Myeloproliferative Disorders.  In:  Harrison’s Online [AccessMedicine]
Includes chronic myelogenous leukemia, polycythemia vera, primary myelofibrosis, essential thrombocytosis and mastocytosis

Table 107–5 World Health Organization (WHO) Classification of Myelodysplastic Syndromes/Neoplasms.  In:  Harrison’s Online [AccessMedicine]

For more details, see Spivak JL.  Polycythemia Vera and Other Myeloproliferative Diseases.  In:  Harrison’s Online [AccessMedicine]

Tefferi A, Vardiman JW.  Myelodysplastic syndromes.  N Engl J Med. 2009 Nov 5;361(19):1872-85.