“Consumption is the sole end and purpose of all production.”
- Source
- The Wealth of Nations
- Date
- 1776
Meaning of “Consumption is the sole end and purpose of…”
Production ultimately exists to serve people who use goods and services, a reminder that economic activity should not lose sight of its human end.
Where does it come from?
The Wealth of Nations; Smith states the consumer-oriented purpose of production while discussing economic policy.