Employment, Money and Interest in the Wealth of Nations

Daniel Diatkine ()
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Daniel Diatkine: University of Paris-Saclay, Univ Evry

Chapter Chapter 8 in Adam Smith and the Wealth of Nations, 2021, pp 199-229 from Palgrave Macmillan

Abstract: Abstract Employing a worker, borrowing or lending are all the activities that share the fact of removing, at least partially, the anonymity that characterises market exchange relations, as the relationship of wage dependency implies the subordination of the worker to his (or her) sole employer, while the borrower is bound to his (or her) creditor by a promise made to the latter. Smith never states that these new dependency relationships (in wage earning and finance) are necessary for defining the advanced state. However, he stresses that they are frequent, that they are sources of common conflicts, and that government measures are required to mitigate their effects.

Date: 2021
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DOI: 10.1007/978-3-030-81600-1_8

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