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Why A. Smith Might Have Been Right, After All
CNR-IRCRES, Consiglio Nazionale Delle Ricerche, Istituto di Ricerca Sulla Crescita Economica Sostenibile, Roma, Italy
- 1 CNR-IRCRES, Consiglio Nazionale Delle Ricerche, Istituto di Ricerca Sulla Crescita Economica Sostenibile, Roma, Italy
American Journal of Industrial and Business Management·Volume 09 (2019)·Pages 1980–1982·Published 7 November 2019·DOI10.4236/ajibm.2019.911129
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Abstract
An attempt is made here at proving a controversial intuition: real profits may be determined by prices not by wages.
KeywordsMethodology of EconomicsTheory of Prices and Income Distribution
- Sraffa, P. (1960) Production of Commodities by Means of Commodities, Cambridge University Press, Cambridge.
- Keynes, J.M. (1936) The General Theory of Employment, Interest and Money, Palgrave Macmillan, London.
- Smith, A. (1776) The Wealth of Nations, W. Strahan and T. Cadell, London.