Boring Books for Bedtime Readings to Help You Sleep cover image

The Wealth of Nations, by Adam Smith, Part 2

Boring Books for Bedtime Readings to Help You Sleep

00:00

The Real and Nominal Price of Commodities

Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life. The far greater part of these with which a man's own labor can supply him must derive from the labor of other people. Labor therefore is the real measure of the exchangeable value of all commodities. It was not by gold or by silver, but by labor, that all the wealth of the world was originally purchased.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app