ADAM SMITH’S PHILOSOPHICAL OR PRIMITIVE ACCOUNT OF VALUE
§ 1. Interpretation of Smith’s doctrine of value rendered difficult
by a plurality of explanations 16
§ 2. Preliminary observations concerning the use of the terms
“labor” and “value” 19
§ 3. The two distinct labor standards in the primitive account—the
“labor cost” and the “labor command” standards 20
§ 4. Smith’s conception of quantity of labor 22
§ 5. The labor and the corn measure of value in different times
and places 24