...allocation of resources through ensuring that the same returns were earned in different activities: The whole of the advantages and disadvantages of the different employments of labour and stock [capital] must, in the same neighbourhood, be either perfectly equal or continually tending to equality...

...will be the greatest possible wealth for the nation. Smith writes: must, in the same neighborhood, be either perfectly equal or continually tending to equality. If in the same neighborhood, there was any employment evidently either more or less advantageous than the rest, so...

...doctrine of Walras and Pareto was known to the classicists, as Bousquct (1927: 62) has rightly emphasized: "The whole of the advantages and disadvantages of the different employments of labor and stock," says Smith (1904, 1: 100 [1976b: 116]), "must, in the same neighbourhood be either...

...isn't enough. The players must have at least fairly equivalent equipment. Adam Smith put it this way: "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 toward...

...because this "policy of Europe, by not leaving things at perfect liberty," occasioned "inequalities in the whole of the advantages and disadvantages of the different employments of labour and stock. . . . First, by restraining the competition in some employments to a smaller number than would otherwise...

...(1979a), Martin and Roberts (1984), Mincer (1970), Osterman (1984), Tinbergen (1975), Wood (1978), 7.1 'The whole of the advantages and disadvantages of...perfectly equal or continually tending to equality' - Smith (1976, page 111), Discuss the theoretical and empirical problems encountered in investigating...

...Walras and Pareto was known to the classical economists, as Bousquet (62) has rightly emphasized : " The whole of the advantages and disadvantages of the different employments of labour and stock ", says Smith (Wealth, ed. Carman, 19o4, I, loo), " must, in the same neighbourhood, be either perfectly...

...at what he actually said, most of his concrete references were to local markets. Just one example: "If in the same neighbourhood, there was any employment...evidently either more or less advantageous than the rest . . .",15 then a suitable average wage would emerge. Smith saw the self-balancing market in a simple...

...explains how honor — a nonpecuniary aspect of employment — can compensate for the pecuniary aspects: The whole of the advantages and disadvantages of the...and stock must, in the same neighbourhood, be either per24. "In the passage of The Theory of Moral Sentiments that was cited above, Adam Smith then takes...

...by Adam Smith, who wrote that The whole of the advantages and disadvantages of different employments and stock must, in the same neighbourhood, be either...perfectly equal or continually tending to equality.' As Elliott (1991 ) has noted: K Competitive theory predicts that the forces of supply in the market...