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Cheerful and Hearty Economics

In: Adam Smith’s Lost Legacy

Author

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  • Gavin Kennedy

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.

Suggested Citation

  • Gavin Kennedy, 2005. "Cheerful and Hearty Economics," Palgrave Macmillan Books, in: Adam Smith’s Lost Legacy, chapter 47, pages 194-196, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-51119-4_47
    DOI: 10.1057/9780230511194_47
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