This interesting work presents a unique perspective on the history
of economic thought by showing that classical economists from Adam
Smith to Alfred Marshall had sympathy for workers - for example,
the theory of the subsistence wage echoed the theological call for
a just wage that existed in the middle ages. It also describes how
these thinkers promoted either a set of social obligations or a
form of social insurance to assist workers. These economic thinkers
of the past argued that a subsistence standard of living was
important to maintain and improve workers' efficiency and to raise
healthy families. The notion that these writers had an undeveloped
theory of social costs that they applied to labor should appeal to
economists and others concerned with the plight of workers as the
modern economy restructures itself.
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