Adam Smith's Simplified Wealth of Nations, Book 1, Chapter 8d: Poverty and Minimum & Maximum wages

Chapter 8d: Poverty and minimum and maximum wages

The Importance Of The Working Poor
35 Is this improvement in the working poor good or bad for society?
Irish Poor
The Irish Poor
36 Poverty discourages marriage but does not always prevent it. 37 Poverty, however, is extremely unfavourable to the rearing of children.

38 "Every species of animals naturally multiplies in proportion to the means of their subsistence, and no species can ever multiply beyond it."

39 High wages enables the poor to bring up more children and provide better for them. 40 It is said that:
  • In reality, the cost of maintaining a free servant also belongs to his master.
  • 41The liberal reward of labour, therefore, is the effect of increasing wealth and the cause of increasing population.

    42 It is in the progressive state, while the society is advancing to riches, rather than when it has acquired its riches, that most of the labouring poor is happiest and most comfortable. 43 The liberal reward of labour encourages the propagation and the increase in the industry of the common people.

    Maximum Wage Rates


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    Next: Chapter 8e: Seasonal and sticky Wages