Adam Smith's Simplified Wealth of Nations, Book 1, Chapter 10d, Part 1: Creating equality in wages and profits

Chapter 10d, Part 1: Creating equality in wages and profits

42 Those five circumstances create inequalities in wages and profits. 43 To create this balance or equality, three things are needed on top of the most perfect freedom:
  1. 44The employments must be well known and long established in the neighbourhood
  1. 47 This equality can take place only in the ordinary or natural state of those employments.
  1. 50 This equality can take place only in the sole or principal employments of those who occupy them.
55 The market of opulent countries is so extensive, that any one trade is sufficient to fully employ those who work in it.
Words: 1238
Next: Chapter 10e: Part 2: Inequalities by Policy -- Apprenticeships