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http://hdl.handle.net/2123/6744| Title: | Cantillon on Real Wages and Employment: a rational reconstruction of the significance of land utilization |
| Authors: | Aspromourgos, Tony Department of Economics |
| Issue Date: | Nov-1995 |
| Publisher: | Department of Economics |
| Series/Report no.: | 222 |
| Abstract: | 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 reconstruction' of Cantillon's system and the relation between real wages and employment within it. It seeks thereby to clarify the difficulties in the way of this doctrine operating in a market economy constructed along Cantillonian lines - as opposed to a Cantillonian command economy. These results are contrasted with a model of Cantillon by Hans Brems. |
| URI: | http://hdl.handle.net/2123/6744 |
| ISBN: | 0867589027 |
| Department/Unit/Centre: | Department of Economics |
| Type of Work: | Working Paper |
| Appears in Collections: | Working Papers - Economics |
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| File | Description | Size | Format | |
|---|---|---|---|---|
| Paper No. 222, Aspromourgos - Nov 1995.pdf | 1.44 MB | Adobe PDF | View/Open |
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