by David Andrews, SUNY-Oswego
Third summer session begins
Location: SUNY Oswego
Wednesday, June 28, 2:28 p.m. - 2:28 p.m.
Rice Creek Ramble
Family-friendly naturalist-led walk. Participants should dress for the weather and call 315-312-6677 on the morning of the hike to check trail conditions. Program size is limited, unable to accommodate groups. Children 17 and under must be accompanied by an adult. Free.
Location: Rice Creek Field Station
Saturday, July 8, 11 a.m. - noon
Wednesday, June 28, 2:26 p.m. - 2:26 p.m.
This essay 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 continuation or 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.