Adam Smith and Inequality (2014)
Most of those discussions are not quantifiable, not following restrict logical, so they can easily dilute to playing word games.<p>For example: &quot;Wages are not the simple product of supply and demand in Smith; bargaining asymmetries are key.&quot; -- &quot;key&quot;? How is this key? If bargaining asymmetries are the key, why not low skill workers get paid $1million and the management get paid $1k instead, since workers are out numbers and they can easily win the bargaining fight? Of course, supply and demand is the key, and bargaining is simply a side factor.<p>The whole article does not have a clear methodology, totally driven by the author&#x27;s perdetemined conclusion, just picking arguments from here and there. Seem useless to me.<p>BTW, I always think left-wing academics should just go out, open businesses, pay workers twice their market wage. And boom, a big win-win! You win your ideology fight and workers get better pay.