Publisert i
Adam Smith Review 6, 2010, pages 191-206
Sammendrag
Unequal power, unequal opportunities, and unequal pay are closely related according to Adam Smith. The disparities may lead to a low wage trap. More balanced power in the labor market would induce higher economic growth to the benefit of the majority, resembling the North European growth experience. Smith's commitment to progress through equity is the real moral sentiment of Wealth of Nations.