Smith's Uniform "Toil and Trouble": A "Vain Subtlety"?
AbstractWhen we take seriously Smiths's oft-expressed admiration for the "beauty of a systematical arrangement of different observations connected by a few common principles" (WN, V.i.f.25) and seek those"connecting principles" within his own system of thought, his "positive index of welfare" loses its paradoxical air; and Blaug's objection is revealed as yet one more illustration of the miscommunication that can occur when author and reader do not share a common analytical framework.
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Bibliographic InfoPaper provided by Purdue University, Department of Economics in its series Purdue University Economics Working Papers with number 1100.
Length: 21 pages
Date of creation: 1997
Date of revision:
ECONOMIC THEORY ; LABOUR ; SOCIAL WELFARE;
Find related papers by JEL classification:
- B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
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- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
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- Meacci, Ferdinando, 2014. "Ricardo's and Malthus's common error in their conflicting theories of the value of labour," MPRA Paper 55948, University Library of Munich, Germany.
- Robinson, W.T. & Min, S., 1998. "Is the First to Market the First to fail?: Empirical Evidence for Manufacturing Business," Purdue University Economics Working Papers, Purdue University, Department of Economics 1115, Purdue University, Department of Economics.
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