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" Labour was the first price, the original purchasemoney that was paid for all things. It was not by gold or by silver, but by labour, that all the wealth of the world was originally purchased; and its value, to those who possess it, and who want to exchange... "
Blackwood's Edinburgh Magazine - Page 172
1856
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On Moral Business: Classical and Contemporary Resources for Ethics in ...

Max L. Stackhouse, Dennis P. McCann, Preston N. Williams, Shirley J. Roels - 1995 - 1002 pages
...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...
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Lauderdale's Notes on Adam Smith's Wealth of Nations

James Maitland Earl of Lauderdale - 1996 - 184 pages
...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...
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T. R. Malthus: The Unpublished Papers in the Collection of Kanto ..., Volume 2

T. R. Malthus - 2004 - 372 pages
...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...
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The Wealth of Nations: Books 1-3, Books 1-3

Adam Smith - 1982 - 582 pages
...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...
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Early Histories of Economic Thought, 1824-1914: View of the progress of ...

2000 - 326 pages
...is supposed at the time to contain the value of an equal quantity. Labour was the first price, the original purchase-money 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...
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Social Science Quotations: Who Said What, When, and Where

David L. Sills, Robert King Merton - 2000 - 466 pages
...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...
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Early Histories of Economic Thought, 1824-1914: History of economic thought

2000 - 724 pages
..." 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...
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A Garland for Gissing, Volume 138

Bouwe Postmus - 2001 - 336 pages
...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,...
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The Great Barrier Reef: History, Science, Heritage

James Bowen, Margarita Bowen - 2011 - 746 pages
...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...
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Property and Prophets: The Evolution of Economic Institutions and Ideologies

E. K. Hunt - 2002 - 308 pages
...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...
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