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An inquiry into the nature and causes of the wealth of nations

Book by Adam Smith · 4 quotes · Wealth Of Nations, Men, Economics

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An inquiry into the nature and causes of the wealth of nations Quotes

“In regards to the price of commodities, the rise of wages operates as simple interest does, the rise of profit operates like compound interest. Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.”

“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.”