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

Author

Listed:
  • Hueckel, G.

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.

Suggested Citation

  • Hueckel, G., 1999. "The Labor "Embodied" in Smith's Labor-Commanded Measure: a "Rationally Reconstructed" Legend," Purdue University Economics Working Papers 1122, Purdue University, Department of Economics.
    • Handle: RePEc:pur:prukra:1122
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    Cited by:

    1. Ecem Okan, 2017. "How did it all begin? Adam Smith on the early and rude state of society and the age of hunters," Post-Print hal-03171143, HAL.

    More about this item

    Keywords

    LABOUR MARKET ; EMPLOYMENT ; ECONOMIC THEORY;
    All these keywords.

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General

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