...instance of this " conjectural history," in a highly and effectively normalized form, is the account of " that early and rude state of society which precedes...accumulation of stock and the appropriation of land." " It is needless at this day to point out that this " early and rude state," in which " the whole produce...

...and enduring to Ricardo. Social organization had changed in the past, for Ricardo could look back to "that early and rude state of society which precedes...accumulation of stock and the appropriation of land." But social organization had reached maturity and would not change materially in the future. He did...

...proportion to the time devoted to the exertion. And thus all would be rich. For, as he again said, "In that early and rude state of society which precedes...of land, the proportion between the quantities of labor necessary for acquiring different objects seems to be the only circumstance which can afford...

...proportion to the time devoted to the exertion. And thus all would be rich. For, as he again said, "In that early and rude state of society which precedes...both the accumulation of stock and the appropriation o£ land, the proportion between the quantities of labor necessary for acquiring different objects...

...predecessors — the early English socialists — also turned. ' In this state of things (namely, ' that early and rude state of society which precedes...accumulation of stock and the appropriation of land ') the whole produce of labour belongs to the labourer ' (I. 49). Furthermore, ' It is not very unreasonable...

...conditions that shaped the class relations of society. Adam Smith considered it important to distinguish the "early and rude state of society which precedes both the accumulation of stock and the appropriation * Cf. the fuller statement of the causal pattern implied by Keynes's General Theory in Mathur, Steady...

...which can afford any rule for our exchanging them for one another, yet he limits its application to " that early and rude state of society, which precedes...accumulation of stock and the appropriation of land ;" as if, when profits and rent were to be paid, they would have some influence on the relative value...

...labour for which it could currently be exchanged on the market. Of course, as Smith points out, in 'the early and rude state of society which precedes both...accumulation of stock and the appropriation of land', the labour embodied in and the labour commanded by a commodity would come to the same thing. But in a capitalist...

...have a suggestion of Locke about them, even though Smith elsewhere rejects this theory. The Smithian "early and rude state of society which precedes both...the accumulation of stock and the appropriation of land"127 resembles in its economic organization the state of nature of Locke and Pufendorf but analytically...

...remain the same 86 Understood relatively, it is not true that in the earliest stage (3 of society " the proportion between the quantities of labour necessary for acquiring different objects is the only circumstance which can afford a rule for exchanging them" . . 87 At a very early period...