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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
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