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Source identified
“Labour was the first price, the original purchase-money that was paid for all things.”

Adam Smith

Source
The Wealth of Nations
Date
1776
Attribution
Source identified
Meaning

What does this quote mean?

Smith grounds economic value historically in labor and effort, making work central to his discussion of exchange before money becomes the convenient measure.

Source context

Where does it come from?

The Wealth of Nations, Book I, Chapter V; Smith discusses labour as the original price and measure behind exchange.

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