The Labor "Embodied" in Smith's Labor-Commanded Measure: a "Rationally Reconstructed" Legend

Glenn Hueckel ()

Purdue University Economics Working Papers from Purdue University, Department of Economics

Abstract: 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.

Keywords: LABOUR MARKET; EMPLOYMENT; ECONOMIC THEORY (search for similar items in EconPapers)
JEL-codes: E00 E24 J20 (search for similar items in EconPapers)
Pages: 37 pages
Date: 1999-07
References: Add references at CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pur:prukra:1122

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