Adam Smith Sunday

Are college professors, lawyers, political pollsters, or opera singers examples of productive or unproductive labour? Does this distinction even make sense? See, for example, this short lecture by the imitable Tyler Cowen explaining Adam Smith’s classic distinction, via Marginal Revolution University:

Or, better yet, read Book II, Chapter 3 of The Wealth of Nations.

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About F. E. Guerra-Pujol

When I’m not blogging, I am a business law professor at the University of Central Florida.
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