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Contributions to Political Economy, Vol. 10, No. 1, pp. 1-20, 1991

research-article

SPECIALISATION AND THE EXISTENCE PROBLEM IN GENERAL EQUILIBRIUM THEORY*

S. ABURIZVI TURAB

University of Vermont

Abstract

When the division of labour has been once thoroughly established, it is but a very small part of a man's wants which the produce of his own labour can supply... Every man thus lives by exchanging, or becomes in some measure a merchant and the society itself grows to be what is properly a commericial society (Smith, 1776, p. 22).


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