THE THEORY OF WAGES IN CLASSICAL ECONOMICS - 9781852787103

THE THEORY OF WAGES IN CLASSICAL ECONOMICS - 9781852787103

THE THEORY OF WAGES IN CLASSICAL ECONOMICSA Study of Adam Smith, David Ricardo and their Contemporaries\nAuthor(s): Antonella Stirati\nFormat: Hardback\nPublisher: Edward Elgar Publishing Ltd, United Kingdom\nImprint: Edward Elgar Publishing Ltd\nISBN-13: 9781852787103, 978-1852787103\nSynopsis\nThis important new book is the first specific study on the classical theory of wages to appear for more than 50 years and as such fills an important gap in the literature.\nAntonella Stirati argues that the wage-fund theory played no part in the theory of wages expounded by Ricardo and his predecessors. Classical wage theory is shown to be analytically consistent but very different from contemporary theory, particularly as it did not envisage an inverse relationship between employment and the real wage level, and hence a spontaneous tendency to full employment of labour. The author bases her approach not only on a reinterpretation of Smith and Ricardo, but also on the writings of Turgot, Ne.

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