An Inquiry into the Nature and Causes of the Wealth of Nations (Annotated)

Author:   Adam Smith
Publisher:   Independently Published
ISBN:  

9781653661169


Pages:   550
Publication Date:   31 December 2019
Format:   Paperback
Availability:   Available To Order   Availability explained
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An Inquiry into the Nature and Causes of the Wealth of Nations (Annotated)


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Overview

Differentiated book- It has a historical context with research of the timeThe natural price occupies a central place in the understanding of Adam Smith's theory of value. This theory is a fundamental element for the analysis of the commercial society carried out by this author. A society based on exchanges of surplus production requires the existence of a common language and an equivalence between the objects to be exchanged. All members of this society live off the exchange and, to this extent, all are considered merchants. Each of them lives the experience of exchange, the experience of value. This experience goes through the nominal prices expressed in monetary terms. However, these prices, due to their contingent nature, cannot be the object of a dynamic study aimed at founding a theory of economic growth. Consequently, Smith uses real prices, prices in terms of working time. This price refers to a universal unit of measurement that allows apprehension of the magnitude of the value. It expresses a commanded work or the penalties and fatigue saved to the one who buys the merchandise .Accordingly, Smith analyzes market prices and natural prices in real terms. The market price is a momentary price, the result of the confrontation between effective supply and demand, while the natural price is a price that allows the reproduction of the economic system. And it is precisely in the relationship that exists between these two prices, that is, in the theory of gravitation, where the natural price acquires all its relevance:

Full Product Details

Author:   Adam Smith
Publisher:   Independently Published
Imprint:   Independently Published
Dimensions:   Width: 20.30cm , Height: 2.80cm , Length: 25.40cm
Weight:   1.075kg
ISBN:  

9781653661169


ISBN 10:   165366116
Pages:   550
Publication Date:   31 December 2019
Audience:   General/trade ,  General
Format:   Paperback
Publisher's Status:   Active
Availability:   Available To Order   Availability explained
We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately.

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