tegwick
41773f1320
Add OpenAIAdapter for the OpenAI chat completions API (apikey-chatgpt.txt or OPENAI_API_KEY). Set default model to arcee-ai/trinity-large-preview:free for the infospace pipeline and increase max_tokens from 4096 to 8192. Reprocess chapter 05 with Trinity Large (was Gemini: 1 truncated entity, now 19 complete entities). Process chapters 06 (Aurora Alpha, 10 entities) and 07 (Trinity Large, 15 entities including regenerated violent-policy.md). Canonical set now at 85 unique entities. Add entity archive policy: entities are never silently deleted. Retired entities move to output/entities/archive/ with a dated reason header. New CLI option: --archive-entity <slug> --reason "...". The --list output shows the archive count alongside the canonical set. Co-Authored-By: Claude Opus 4.6 <noreply@anthropic.com>
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natural-rate
Definition
The natural rate refers to the ordinary or average rate of wages, profit, or rent that prevails in a society or neighbourhood under normal conditions. These rates are naturally regulated by general circumstances of society (riches or poverty, advancing or declining condition) and by the particular nature of each employment. Natural rates serve as benchmarks for determining natural prices and represent the equilibrium levels toward which actual rates tend.
Source Chapter
Book 1, Chapter 7: "OF THE NATURAL AND MARKET PRICE OF COMMODITIES."
Context
Smith establishes natural rates as the foundational component of natural prices. He explains that these rates vary across different employments and societies, and that they form the basis for determining whether market prices are above or below their natural levels. The concept appears throughout his analysis of price determination.
Economic Domain
General Theory
Smith's Original Wording
"There is in every society or neighbourhood an ordinary or average rate, both of wages and profit, in every different employment of labour and stock. This rate is naturally regulated, as I shall shew hereafter, partly by the general circumstances of the society, their riches or poverty, their advancing, stationary, or declining condition, and partly by the particular nature of each employment."
Modern Interpretation
Natural rates function as Smith's equilibrium concepts for factor returns - the rates that would prevail in competitive markets when all adjustments have occurred. These rates provide the foundation for understanding long-run price determination and factor market equilibrium in classical economics.