 | Stephen Gudeman, Alberto Rivera - Business & Economics - 1990 - 224 pages
...Smith, for example, constructed his theory of supply, demand, and market pricing by beginning with "that early and rude state of society which precedes...accumulation of stock and the appropriation of land" (Smith 1976[1776]:53); von Thiinen did much the same in his argument about land, rent, and the agricultural... | |
 | John Eatwell, Murray Milgate, Peter Newman - Business & Economics - 1990 - 406 pages
...'the whole produce of labour belongs to the labourer' (Smith, 1776, vol. I, p. 54; see ibid., p. 72). 'In that early and rude state of society which precedes both the accumulation of stock and the appropriate of land', he asserts 'the proportion between the quantities of labour necessary for acquiring... | |
 | John Cunningham Wood - Business & Economics - 1991 - 230 pages
...consequently less with the cause than with the measure of exchange value. Adam Smith had asserted that in "that early and rude state of society which precedes...the accumulation of stock and the appropriation of land"16 commodities exchange in proportion to the quantities of labor expended in acquiring them. But... | |
 | David Hamilton - Economics - 1970 - 158 pages
...reached maturity and would not change materially in the future. With Adam Smith, he looked back to "that early and rude state of society which precedes...accumulation of stock and the appropriation of land." ... It was by the light of a capitalist reason that Ricardo saw how savages behave; a more deceptive... | |
 | Henry William Spiegel - Business & Economics - 1991 - 904 pages
...equal to the rate of interest. Von Neumann's model had certain features in common with Adam Smith's "early and rude state of society which precedes both...accumulation of stock and the appropriation of land"; but, paradoxical as it may seem, aspects of the model had their counterpart in the FROM ECONOMICS TO... | |
 | Kenneth España Bauzon - Business & Economics - 1992 - 368 pages
...which, because of not existing, came into existence by means of labor). 36. Smith says to us naively: "In that early and rude state of society which precedes both the accumulation of stock [capital] and the appropriation of land, the proportion between the quantities of labour necessary... | |
 | Luigi L. Pasinetti - Business & Economics - 1993 - 214 pages
...individual will ' ll is nl the beginning of chapter 6 of book I of The Ueahlmi /Vt/Mt»ix tha! Smith writes: 'In that early and rude state of society which precedes...land, the proportion between the quantities of labour necessity for acquiring different objects seems to be the only circumstance which can afford am rule... | |
 | Thorstein Veblen - Business & Economics - 1993 - 438 pages
...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...the accumulation of stock and the appropriation of land."14 It is needless at this day to point out that this "early and rude state," in which "the whole... | |
 | John Cunningham Wood - Biography & Autobiography - 1993 - 664 pages
...For one page, Smith does have a "labor theory of value," writing ( Wealth of Nations, Book I, ch. 6): In that early and rude state of society which precedes both the accumulation of stock ("capital"] and the appropriation of [ scarce] land, the proportion between the quantities of labour... | |
| |
In that early and rude state of society which precedes both the accumulation of stock and the appropriation of land, the proportion between the quantities of labour necessary for acquiring different objects seems to be the only circumstance which can... 
