La teoría de fondos de salarios en Adam Smith: una formulación matemática

This paper puts forth a mathematical formalization of the wage fund theory presented by Adam Smith in his 1776 treatise, An inquiry into the Nature and Causes of the Wealth of Nations. The fundamental tenets of Smith's wage fund theory are elucidated herein. The concept of the natural wage, which represents the focal point around which the market wage oscillates, is thus reaffirmed. It is demonstrated that the most pivotal notion pertaining to Smithian wage dynamics is situated in the divergence between the market wage and the natural wage, and in the potential for unemployment within the model as a fundamental mechanism of adjustment between the two (gravitation).