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Smith and Living Wages: Arguments in Support of a Mandated Living Wage

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  • Betsy Jane Clary

Abstract

Adam Smith was a proponent of living wages for labor for reasons of growth and for reasons of equity. There is ample evidence in the body of Smith's work to support the thesis that Smith would support public policies that might ensure the achievement of a living wage. The argument rests, in part, on the conclusion that Smith had reservations concerning the ability of the economy to experience sufficient growth and the ability of growth, if achieved, to secure living wages. This article argues that, given Smith's views about justice and given Smith's ideas, as part of the Scottish Enlightenment, of how the rules of justice evolve, a living wage law could be one of the general rules of which Smith could approve.

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  • Betsy Jane Clary, 2009. "Smith and Living Wages: Arguments in Support of a Mandated Living Wage," American Journal of Economics and Sociology, Wiley Blackwell, vol. 68(5), pages 1063-1084, November.
    • Handle: RePEc:bla:ajecsc:v:68:y:2009:i:5:p:1063-1084
    DOI: 10.1111/j.1536-7150.2009.00653.x
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    8. Warren J. Samuels & Steven G. Medema, 2005. "Freeing Smith from the “Free Market”: On the Misperception of Adam Smith on the Economic Role of Government," History of Political Economy, Duke University Press, vol. 37(2), pages 219-226, Summer.
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    Cited by:

    1. Thorsten Schulten & Torsten Müller, 2019. "What’s in a name? From minimum wages to living wages in Europe," Transfer: European Review of Labour and Research, , vol. 25(3), pages 267-284, August.
    2. Andrea Werner & Ming Lim, 2016. "The Ethics of the Living Wage: A Review and Research Agenda," Journal of Business Ethics, Springer, vol. 137(3), pages 433-447, September.
    3. Bruce E. Kaufman, 2016. "Adam Smith’s Economics and the Modern Minimum Wage Debate:The Large Distance Separating Kirkcaldy from Chicago," Journal of Labor Research, Springer, vol. 37(1), pages 29-52, March.
    4. Yandi Yusnandar & B.S. Nazamuddin & Raja Masbar & Abd. Jamal, 2020. "Determinants of labor force participation and its impact on the standard of living of working age individuals in Indonesia, a gender perspective," Economics Bulletin, AccessEcon, vol. 40(2), pages 989-1001.
    5. Mair, Simon & Druckman, Angela & Jackson, Tim, 2019. "Higher Wages for Sustainable Development? Employment and Carbon Effects of Paying a Living Wage in Global Apparel Supply Chains," Ecological Economics, Elsevier, vol. 159(C), pages 11-23.

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