The True Value Of Labour

Labour, as mentioned last week, is what Smith believes to be the true measure of money and value of commodities. It hasn’t got a fixed value, and like many things, it highly fluctuates from year to year. Nevertheless, its value results from a ruthless war fought by employers and employees as they aim to meet somewhere both parties feel is fair. This fight often makes employers forget that many people could be relying on the employee but at the same time, employees rarely consider the complexities and unfairness of hiring someone. Like the free market, it is important that this fight continues, and one side does not reign victorious. However, it is inevitable that at certain times, one will not have an advantage over the other. And it is even more foolish to believe they will not exploit that power to its full extent.