Quotation by

Adam Smith

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.

Adam Smith

Money

Understanding this quote AI Analysis

Adam Smith is saying that the value of everything ultimately comes from the work people put into making or producing it, rather than from precious metals like gold or silver. In other words, labor is the fundamental source of wealth because it is the original cost paid to create all goods and services.

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