Abstract
It must be explained that this study is not intended to provide a coherent and complete account of the development of wage theory from Cantillon to Senior. On the contrary, it is concerned with certain contrasts between a number of theories of wages in which I have become interested. What I have tried to do has been to identify some of the assumptions made and questions actually asked by the economists whose theories are included. I have avoided assessing the ‘correctness’ of theories in terms of the questions asked and assumptions made by later economists.
It is not because one man keeps a coach while his neighbour walks a-foot, that the one is rich and the other poor; but because the one is rich he keeps a coach, and because the other is poor he walks a-foot.
Adam Smith 1
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© 1973 Marian Bowley
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Bowley, M. (1973). Aspects of Wages and Profit Theory from Cantillon to John Stuart Mill. In: Studies in the History of Economic Theory before 1870. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-01874-1_6
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DOI: https://doi.org/10.1007/978-1-349-01874-1_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-01876-5
Online ISBN: 978-1-349-01874-1
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