Abstract
The classical economists, Smith and Ricardo in particular, used the term ‘necessaries’ to indicate ‘the commodities which are indispensably necessary for the support of life’, and also ‘whatever the custom of the country renders it indecent for creditable people, even of the lowest order, to be without’ (Smith 1776, vol. 2, pp. 869–70). Thus, necessaries include not only the goods which are strictly required for the survival of workers and their families, but also all the commodities which by habit and custom are regarded as ‘necessary to the lowest rank of people’ (ibid.). Thus the term includes a purely physical element and a sociological one. Smith distinguishes necessaries from luxuries, which are all the goods which are not strictly required to guarantee the workers a decent standard of living.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsBibliography
Marshall, A. 1920. Principles of economics, 8th ed. London: Macmillan, 1964.
Mill, J. 1808. Commerce defended. Edinburgh: Oliver & Boyd, 1966.
Mill, J.S. 1848. Principles of political economy. Harmondsworth: Penguin, 1970.
Quesnay, F. 1767. The General Maxims for the economic government of an agricultural kingdom. In The economics of physiocracy, ed. R.L. Meek. London: Allen & Unwin, 1962.
Ricardo, D. 1821. On the principles of political economy and taxation. 3rd ed. In The works and correspondence of David Ricardo, ed. P. Sraffa. Cambridge: Cambridge University Press, 1951.
Smith, A. 1776. An inquiry into the nature and causes of the wealth of nations. Oxford: Oxford University Press, 1976.
Author information
Authors and Affiliations
Editor information
Copyright information
© 2018 Macmillan Publishers Ltd.
About this entry
Cite this entry
Vaggi, G. (2018). Necessaries. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1125
Download citation
DOI: https://doi.org/10.1057/978-1-349-95189-5_1125
Published:
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-95188-8
Online ISBN: 978-1-349-95189-5
eBook Packages: Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences