The Labor "Embodied" in Smith's Labor-Commanded Measure: a "Rationally Reconstructed" Legend
Adams Smith presented the notion of the labor commanded by a commodity in the marketplace. Much of what we think and we know regarding Smith's value measure and its role in his larger system must be jettisoned. That alone qualifies this new view as deserving of the most careful inspection, and it is to that task that this essay is devoted.
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