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Wages and work effort in English economic thought, 1670-1770

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  • Anastassios D. Karayiannis
  • Ioannis A. Katselidis

Abstract

This article, by examining the two strands of thought developed during the period 1670-1770 in English economic thought with respect to the preferable wage rates, intends to evaluate the theoretical arguments which specify the pre-classical theses for or against low real wages and to analyse how the relationship between wages and individuals' work effort is interpreted according to the pre-classical English economists. In addition, we examine what these writers proposed as regards the formation of the desirable level of wages and what factors influence them to adopt specific views.

Suggested Citation

  • Anastassios D. Karayiannis & Ioannis A. Katselidis, 2014. "Wages and work effort in English economic thought, 1670-1770," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 21(2), pages 230-251, April.
    • Handle: RePEc:taf:eujhet:v:21:y:2014:i:2:p:230-251
    DOI: 10.1080/09672567.2012.683030
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    References listed on IDEAS

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    1. Rogers, James E. Thorold, 1884. "Six Centuries of Work and Wages: The History of English Labour," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number rogers1884.
    2. Vasilev, Aleksandar & Maksumov, Rashid, 2010. "Critical analysis of Chapter 23 of Keynes’s Notes on Mercantilism in The General Theory of Employment, Interest and Money (1936)," EconStor Research Reports 155318, ZBW - Leibniz Information Centre for Economics.
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