Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Incidentally, it should also be noted that when Smith speaks of "subsistence income" he does not mean the minimal survivable income. Rather, he means the income that allows a labourer to function in society, while also raising enough children to maintain population. So in a society in which a labourer is expected to be bathed and shaven, soap and razors are part of the subsistence income, even though there is no strictly biological reason to regard them as such.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Dec 15th, 2010 at 03:54:40 AM EST
[ Parent ]
Indeed. Smith explicitly makes the point that, if the standard of the society is that the worker should go to work in a clean linen shirt, then that is a part of subsistence.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Dec 15th, 2010 at 02:22:27 PM EST
[ Parent ]


Top Diaries

Occasional Series