Macroeconomics 9th Edition by David Colander

Exercise 39

In the Wealth of Nations Adam Smith claimed, "Servants, labourers and workmen of different kinds, make up the far greater part of every great political society.ut what improves the circumstances of the greater part can never be regarded as an inconvenience to the whole.o society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.t is but equity, besides, that they who feed, clothe and lodge the whole body of the people, should have such a share of the produce of their own labour as to be themselves tolerably well fed, cloathed and lodged." In light of today's economy, what argument can you give that supports this claim What argument can you give that disputes this claim (Austrian and Post-Keynesian)