Adam Smith summary

Society natural weight of wage market price actual

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
society   natural weight of wage; market price – actual price at which commodity  is sold; competition forms; monopolists understock to maximize price Of the wages of labor : produce of labor constitutes the natural reward (wages of  labor); dealing with private land & landlords; a man must always live by his work,  and his wages must at least be sufficient to maintain him; surplus of stock,  increase journeymen (servants) to profit; the increase of revenue and stock is the  increase of national wealth
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
: lots of  inequalities; fear of losing employment which restrains his frauds and corrects his  negligence Effects of the progress of improvement upon the real price of manufactures natural effect of improvement to diminish gradually the real price of almost all  manufacturers; landlord’s share of the produce necessarily increases the  increase of the produce
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 2

society natural weight of wage market price actual price at...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online