...number than would otherwise be disposed to enter into them, occasions a very important inequality in the whole of the advantages and disadvantages of the different employments of labour and stock. Secondly, The policy of Europe, by increasing the competition in some employments beyond what it naturally...

...causes of differences of wages in different occupations. Adani Smith lays down the proposition that "the whole of the advantages and disadvantages of the different employments of labor and *Thia may be illustrated by the familiar diagram. Let the number of labor units be measured...

...the tendency of the rate of profits to equality, or, in Adam Smith's phraseology, the ' equality in the whole of the advantages and disadvantages of the different employments of stock.' 8. Examine the doctrine that ' the value of money depends on its quantity,' noticing (a) the...

...most difficult to be transported," * forgets the significance of his own warning, and assumes that " the whole of the advantages and disadvantages of the different employments of labor . . . must, in the same neighborhood, be either perfectly equal or continually tending to equality...

...employments, not the income obtained from them, that any one would naturally expect to be equal : — ' The whole of the advantages and disadvantages of the different employments of labour and stock,' he says, 'must, in the same neighbourhood, be either perfectly equal or continually tending to equality....

...causes of differences of wages in different occupations. Adam Smith lays down the proposition that "the whole of the advantages and disadvantages of the different employments of labor and stock must, in the same neighborhood, be either perfectly equal or continually tending to...

...important reasons for this are well brought out in the following much quoted passage from Adam Smith. *The whole of the advantages and disadvantages of...employments of labour and stock must, in the same neighborhood, be either perfectly equal or continually tending to equality. If in the same neighborhood...

...established and well known, the competition reduces them to the level of other trades. II. This equality in the whole of the advantages and disadvantages of the different employments of labour and stock, can take place only in the ordinary, or the natural state of those employments. The demand for almost...

...causes of differences of wages in different occupations. Adam Smith lays down the proposition that "the whole of the advantages and disadvantages of the different employments of labor and stock must, in the same neighborhood, be either perfectly equal or continually tending to...

...would be nearly a realization of the state of things pictured in Adam Smith's famous passage : — " The whole of the advantages and disadvantages of the different employments of labour . . . must in the same neighbourhood be either perfectly equal or continually tending to equality....