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.


Labour was the first price, the original purchase - money th

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
Liked the quote? Share it with your friends.

Random Quotations

There was a time in my life when I did a fair bit of work for the tempestuous Lucretia Stewart, then editor of the American Express travel magazine, . Together, we evolved a harmless satire of the slightly driveling style employed by the journalists of tourism. 'Land of Contrasts' was our shorthand for it. ('Jerusalem: an enthralling blend of old and new.' 'South Africa: a harmony in black and white.' 'Belfast, where ancient meets modern.') It was as you can see, no difficult task. I began to notice a few weeks ago that my enemies in the 'peace' movement had decided to borrow from this tattered style book. The mantra, especially in the letters to this newspaper, was: 'Afghanistan, where the world's richest country rains bombs on the world's poorest country.'Poor fools. They should never have tried to beat me at this game. What about, 'Afghanistan, where the world's most open society confronts the world's most closed one'? 'Where American women pilots kill the men who enslave women.' 'Where the world's most indiscriminate bombers are bombed by the world's most accurate ones.' 'Where the largest number of poor people applaud the bombing of their own regime.' I could go on. (I think number four may need a little work.) But there are some suggested contrasts for the 'doves' to paste into their scrapbook. Incidentally, when they look at their scrapbooks they will be able to re-read themselves saying things like, 'The bombing of Kosovo is driving the Serbs into the arms of Milosevic.

Christopher Hitchens