Quote by Adam Smith
Labour was the first price, the original purchase - money that was paid for all things. It was not by gold or by silver, but by labour, that all wealth of the world was originally purchased.
Summary
This quote emphasizes the inherent value of labor in the acquisition of wealth. It suggests that, historically, the primary means of obtaining goods and wealth was through the exertion of human effort and skills, rather than through the exchange of gold or silver. Essentially, it highlights the fundamental importance of labor and its role in creating and accumulating resources and prosperity in the world.
Topics
Money
By Adam Smith
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