Natural price and the long run: Alfred Marshall's misreading of Adam Smith
质疑马歇尔关于斯密将自然价格视为长期趋势的解读,指出斯密的自然价格实为再生产价格,即维持商品持续供应的价格,与长期结果概念根本不同。
This article challenges Alfred Marshall’s widely accepted claim that it was Adam Smith’s ‘doctrine’ that ‘the “natural” value of a commodity is that which economic forces tend to bring about in the long run’. Smith did not define natural price in this way either explicitly or implicitly. The classical natural price of a commodity functioned instead as a reproduction price, the price that is just sufficient to maintain an ongoing supply of the commodity to the market, a concept fundamentally different from a long-run outcome.