621 B
621 B
Demand for Labour
Definition
The need for workers in various employments that necessarily increases with the increase of the revenue and stock of every country, and cannot possibly increase without it, regulating the production of men like any other commodity.
Source Chapter
Book I, Chapter 8
Context
Presented as the key determinant of wages, with its fluctuations explaining variations in wage levels across different times and places.
Economic Domain
General Theory