“Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniencies, and amusements of human life.”
- Source
- The Wealth of Nations
- Date
- 1776
Meaning of “Every man is rich or poor according to…”
Smith defines economic command in terms of access to goods and services rather than the mere possession of coins, linking wealth with purchasing capacity.
Where does it come from?
The Wealth of Nations, Book I, Chapter V; Project Gutenberg #3300. The historical spelling “conveniencies” is retained; this is classical political economy, not a modern household-wealth metric.