Income, wages, profits and rental: some views of Adam Smith

Nikoloski, Krume and Paceskoski, Vlatko (2017) Income, wages, profits and rental: some views of Adam Smith. Годишен зборник, Економски факултет, 9. pp. 27-39. ISSN 1857-7628

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Abstract

Abstract Theories are sets of instructions that give a sense of a phenomenon or key actors, so they connect the phenomena’s as a whole, identify and explain the relationship between agents, explain what happens when the agents are in mutual interaction, and through reflection of key relationships they can enable prediction of the future behavior and better control over the phenomenon. Understanding the different approaches and perspectives for the economy, the reasons for these differences and how they evolved over time provides a historical and philosophical context that encourages most economists to have a critical analysis of current economic tools and their applications. Theories are sets of instructions that give a sense of a phenomenon or key actors, so they connect the phenomena’s as a whole, identify and explain the relationship between agents, explain what happens when the agents are in mutual interaction, and through reflection of key relationships they can enable prediction of the future behavior and better control over the phenomenon. Economy grows as a continuous process which continues today, is in itself an inspiration to many economists who want to study economic thought, and perhaps even contribute to its further development. In the context, the aim of this paper is the study of economic thought, or thinking and discussion of Adam Smith linked to the distribution of income, wages, profit and rent. Kew words: income, wages, profits and rental 1.

Item Type: Article
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Economics
Depositing User: Krume Nikoloski
Date Deposited: 28 Feb 2018 12:22
Last Modified: 28 Feb 2018 12:22
URI: http://eprints.ugd.edu.mk/id/eprint/19670

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