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Aspects of Wages and Profit Theory from Cantillon to John Stuart Mill

with an Addendum on Adam Smith’s Explanation of the Falling Rate of Profit
  • Marian Bowley

Abstract

It must be explained that this study is not intended to provide a coherent and complete account of the development of wage theory from Cantillon to Senior. On the contrary, it is concerned with certain contrasts between a number of theories of wages in which I have become interested. What I have tried to do has been to identify some of the assumptions made and questions actually asked by the economists whose theories are included. I have avoided assessing the ‘correctness’ of theories in terms of the questions asked and assumptions made by later economists.

Keywords

Real Wage Capital Accumulation Aggregate Demand Natural Rate Progressive State 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Marian Bowley 1973

Authors and Affiliations

  • Marian Bowley
    • 1
  1. 1.Professor of Political EconomyUniversity of LondonUK

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