markitect-main/examples/infospace-with-history/output/entities/ordinary-state-of-employments.md

Ordinary State of Employments

Definition

The typical or usual condition of economic activities when demand for labour fluctuates around normal levels, as opposed to periods of extraordinary demand or declining industries, representing the baseline against which exceptional wage variations are measured.

Source Chapter

Book I, Chapter 10

Context

Smith distinguishes between the ordinary or natural state of employments and periods when demand for specific types of labour rises above or falls below usual levels. He uses this distinction to explain how temporary variations in demand affect wages differently across occupations, with some trades maintaining more constant employment than others.

Economic Domain

General Theory

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