Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/305479 
Erscheinungsjahr: 
2024
Schriftenreihe/Nr.: 
Working Paper No. 2024-04
Verlag: 
The University of Utah, Department of Economics, Salt Lake City, UT
Zusammenfassung: 
Adam Smith's inquiry into the emergence and stability of the self-organization of the division of labor in commodity exchange is considered using statistical equilibrium methods from statistical physics. We develop a statistical equilibrium model of the distribution of independent direct producers in a hub-and-spoke framework that predicts both the center of gravity of producers across lines of production as well as the endogenous fluctuations between lines of production that arise from Smith's concept of "perfect liberty". The ergodic distribution of producers implies a long-run balancing of "advantages to disadvantages" across lines of employment and gravitation of market prices around Smith's natural prices.
Schlagwörter: 
Competition
Hub-and-spoke
Value theory
Classical Political Economy
Statistical equilibrium
Dokumentart: 
Working Paper

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