...labour which we exchange for what is supposed at the time to contain the value of an equal quantity. . . it was not by gold or by silver but by labour, that...wealth of the world was originally purchased; and its value, to those who possess it, and who want to exchange it for new production, is precisely equal...

...to contain the value of an equal quantity. Labour was the first price, the original purchase- money that was paid for all things. It was not by gold or...wealth of the world was originally purchased; and its value, to those who possess it, and who want to exchange it form some new productions, is precisely...

...quantity.** Labour was the first price, the original purchase money that was paid for all things. lt was not by gold or by silver, but by labour, that...the wealth of the world was originally purchased;*** . . . * It is impossible to lay down a general position that the real price of every thing to the person...

...power) be obtained by labour. "Labour" says Adam Smith "was the first price, the original purchase money that was paid for all things. It was not by gold or...the wealth of the world was originally purchased"" - Whenever therefore we are desirous of ascertaining what the value of any commodity is, we must enquire...

...is supposed at the time to contain the value of an equal quantity. Labour was the first price, the original purchasemoney that was paid for all things....wealth of the world was originally purchased; and its value, to those who possess it, and who want to exchange it for some new productions, is precisely...

...purchase-money that was paid for all things. The Wealth of Nations (1776) 1937:Book 1, chap. 5, 30. 10 It was not by gold or by silver, but by labour, that...wealth of the world was originally purchased; and its value, to those who possess it, and who want to exchange it for some new productions, is precisely...

..." Labour was the first price, the original purchase money that was paid for all things. It was ... by labour, that all the wealth of the world was originally purchased." Next it is to be observed that Smith distinguishes between the causes of value in early society and...

...product to disembodied profn. In an earlier century, Adam Smith had located the source of value in labour ("It was not by gold or by silver, but by labour, that all the wealth of the world was originally Adrian Poole, Gissing in Context (Totowa, New Jersey: Rowman & Littkfield, 1975), 200. 4 Ivan Melada,...

...statement Smith is often assumed to have argued for a "labor theory of value." He does go on to argue that "it was not by gold or by silver, but by labour, that all the wealth of the world was originally purchased,"2 This is the sort of passage that made Snuth such a worthy figure in Marx's eyes, for here...

...productive powers of those labourers who had before been employed," (Smith 1937. p. 326) and again. "1t was not by gold or by silver, but by labour, that...the wealth of the world was originally purchased" (Smith 1937, p. 30). Once a small class came to own the means of production, however, it acquired the...