The problem of labour in the classical politic economy

Philosophy

Abstract

The problem of labour is the central for the classical politic economy. A.Smith was the first to determine labour as the substance of value. This leads him to understanding of laws of economy and the main economic categories – use and exchange value, “natural”, “real” and “nominal” price. The duality of the A.Smith’s methodology, giving birth to “analytical” and “descriptive” tendencies of the economic theory development, is revealed in the paper.