Should-Read: Morgan Kelly and Cormac Ó Gráda (2016): Adam Smith, Watch Prices, and the Industrial Revolution: “Watches were the first mass-produced consumer durable… …and were Adam Smith’s preeminent example of technological progress…. Smith makes the notable claim that watch prices may have fallen by up to 95% over the preceding century…. We look at changes … Continue reading Should-Read: Morgan Kelly and Cormac Ó Gráda: Adam Smith, Watch Prices, and the Industrial Revolution