Impressive and authoritative, this essential book brings together a collection of essays in honour of Peter Groenewegen, one of the most distinguished historians of economic thought of a generation. His work on a wide range of economic theorists such as Adam Smith, François Quesnay and Alfred...

Smith’s approach to market prices is a dynamic conception of price adjustment in response to market imbalance, in terms of deviation of actual prices from normal price. Latter-day demand functions are not part of this conception. Neither are latter- day supply functions – and relations...

Keyne's General Theory briefly discusses the Australian wages system, as an example of a system in which an attempt was made to fix real wages by law. Keynes argues that such a system, strictly enforced, generates an unstable unemployment equilibrium or highly volatile money wages and prices....

It is quite a fundamental proposition of Richard Cantillon's Essai sur la Nature du Commerce en General (1755) that employment and population bear a negative relation to the level of real subsistence wages - a form of wages (or subsistence) fund doctrine. This paper presents a 'rational...

Impressive and authoritative, this essential book brings together a collection of essays in honour of Peter Groenewegen, one of the most distinguished historians of economic thought of a generation. His work on a wide range of economic theorists such as Adam Smith, François Quesnay and Alfred...