Adam Smith's Theory of Value and Distribution (eBook, PDF)

Economics as a Moral Science Once Again

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Ever since the time of his early interpreters, beginning with David Hume, Adam Smith's theory of value has been the subject of confusion and misunderstanding-including a controversy which still rages over whether Smith held a labour theory of value, and, if so, whether he held to it throughout Wealth of Nations, or if it was confined to the "Early and Rude State"? This book provides a close reading of Smith's key text, and also incorporates material from the other parts of Smith's oeuvre, especially from The Theory of Moral Sentiments, to yield original and important insights into Smith's theo...

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