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Smith's Uniform "Toil and Trouble": A "Vain Subtlety"?

Author

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  • Hueckel, G.

Abstract

When 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.

Suggested Citation

  • Hueckel, G., 1997. "Smith's Uniform "Toil and Trouble": A "Vain Subtlety"?," Purdue University Economics Working Papers 1100, Purdue University, Department of Economics.
  • Handle: RePEc:pur:prukra:1100
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    Cited by:

    1. 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 1115, Purdue University, Department of Economics.
    2. 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.

    More about this item

    Keywords

    ECONOMIC THEORY ; LABOUR ; SOCIAL WELFARE;

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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