Adam Smith Quotes About Commodities

Quotes about: Commodities

• In raising the price of commodities, the rise of wages operates in the same manner as simple interest does in the accumulation of debt. Our merchants and master manufacturers complain much of the bad effects of high wages in raising the price, and thereby lessening the sale of their goods, both at home and abroad. They say nothing concerning the bad effects of high profits; they are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.

  Adam Smith

  Philosophy, Simple, People

  "An Inquiry into the Nature and Causes of the Wealth of Nations".

• The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command. Labour, therefore, is the real measure of the exchangeable value of all commodities. The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.

  Adam Smith

  Real, Mean, Men

  Adam, Smith (2016). “The Wealth of Nations”, p.24, Aegitas

• A monopoly granted either to an individual or to a trading company has the same effect as a secret in trade or manufactures. The monopolists, by keeping the market constantly understocked, by never fully supplying the effectual demand, sell their commodities much above the natural price, and raise their emoluments, whether they consist in wages or profit, greatly above their natural rate.

  Adam Smith

  Competition, Secret, Demand

  Adam Smith, James R. Otteson (2004). “Adam Smith: Selected Philosophical Writings”, p.114, Imprint Academic

• Sugar, rum and tobacco are commodities which are nowhere necessaries of life, which are become objects of almost universal consumption, and which are therefore extremely proper subjects of taxation.

  Adam Smith

  Taxation, Sugar, Commodity

  Adam Smith (1843). “An Inquiry Into the Nature and Causes of the Wealth of Nations With a Life of the Author: Also a View of the Doctrine of Smith, Compared with that of the French Economists, with a Method of Facilitating the Study of His Works, from the French of M. Jariner”, p.399

• A very poor man may be said in some sense to have a demand for a coach and six; he might like to have it; but his demand is not an effectual demand, as the commodity can never be brought to market in order to satisfy it.

  Adam Smith

  Men, Order, Demand

  Adam Smith (2010). “An Inquiry Into the Nature and Causes of the Wealth of Nations”, p.59, Cosimo, Inc.

• The natural price, therefore, is, as it were, the central price, to which the prices of all commodities are continually gravitating.

  Adam Smith

  Commodity, Natural, Wealth Of Nations

  Adam Smith (2016). “The Wealth of Nations: the Great Master”, p.70, VM eBooks

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