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The Wealth of Nations by Adam Smith Book 1 Full Audiobook

Best Book Summaries 📚 by StoryShots

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Labor, Wages, and Population Growth in Society

This chapter delves into various aspects of labor, wages, and population growth in different countries, examining the impact of subsistence on the labor force, the relationship between the price of labor and provisions, and the effects of improving the circumstances of the lower classes. It discusses the demand for labor, how poverty affects child-rearing and mortality rates, and the differences in managing free servants and slaves. Additionally, it explores the influence of plentiful or scanty subsistence on workmen's industry, the impact of high wages on diligence, and how societal wealth fluctuations affect stock profits and competition within trades.

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