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# Dear Years

## Definition

Periods of scarcity and high prices that tend to diminish the proportion of independent workmen relative to journeymen and servants, while also reducing the funds for maintaining servants and increasing competition for employment.

## Source Chapter

Book I, Chapter 8

## Context

Examined for their effects on wages and employment patterns, with Smith arguing they tend to increase dependence and sometimes lead to lower wages.

## Economic Domain

General Theory

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