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“The difference between the earnings of a common labourer and those of a well employed lawyer or physician, is evidently much greater than that between the ordinary profits in any two different branches of trade. The apparent difference, besides, in the profits of different trades, is generally a deception arising from our not always distinguishing what ought to be considered as wages, from what ought to be considered as profit.” — Adam Smith
The difference between the earnings of a common labourer and those of a well employed lawyer or physician, is
evidently much greater than that between the ordinary profits in any two different branches of trade. The
apparent difference, besides, in the profits of different trades, is generally a deception arising from our not
always distinguishing what ought to be considered as wages, from what ought to be considered as profit.