著者

TAKASHI NEGISHI

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.37, no.1, pp.2-10, 1986-03-10 (Released:2007-10-19)

参考文献数

20

著者

Takashi NEGISHI

出版者

The Japanese Society for the History of Economic Thought

雑誌

経済学史学会年報 (ISSN:04534786)

巻号頁・発行日

vol.32, no.32, pp.40-47, 1994 (Released:2010-08-05)

参考文献数

13

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In his Wealth of Nations (1776), Adam Smith still emphasized the effects of the division of labour, which he had tried to demonstrate by numerical exampes in the Early Draft (1763). By the use of our Smithian growth model of a capitalistic economy—with a balanced growth path, in which Adam Smith's natural prices and natural wages are realized—we can show that a further division of labour in the production of a commodity reduces its natural price and increases the natural rate of wages and profit. It is also demonstrated that Smith's numerical examples in the Early Draft can be generated from the growth model within his Wealth of Nations.