Cheerful and Hearty Economics

Gavin Kennedy ()

Chapter 47 in Adam Smith’s Lost Legacy, 2005, pp 194-196 from Palgrave Macmillan

Abstract: Abstract There are two more things we should review from Smith’s narrative. First, what determines the shares of the revenues paid to rent, profit and wages? This looks fearfully uninteresting — a result of my posing it in economic terms. But it is central to his narrative: the parties bargain for their shares in unequal contests.

Keywords: Wage Rate; Progressive State; Sales Revenue; Wage Offer; Current Market Price (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-51119-4_47

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DOI: 10.1057/9780230511194_47

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