SMITH AT 300: ON REGULATION OF THE LABOUR CONTRACT

Tony Aspromourgos

Journal of the History of Economic Thought, 2023, vol. 45, issue 2, 206-207

Abstract: “Whenever the legislature attempts to regulate the differences between masters and their workmen, its counsellors are always the masters. When the regulation, therefore, is in favour of the workmen, it is always just and equitable; but it is sometimes otherwise when in favour of the masters. Thus the law which obliges the masters in several different trades to pay their workmen in money and not in goods, is quite just and equitable” (Smith 1976 [1776]), I.x.c.61, pp. 157–158).

Date: 2023
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