...really costs to the man who wants to acquire it, is the toil and trouble of acquiring it. ... Labour was the first price, the original purchase money, that was paid for all things. . . . The quantities of labour necessary for acquiring different objects seem to be the only circumstance...

...which we exchange for what 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." The fundamental position of the classical doctrine of value is, it has been contended above, reached...

...it with all the necessaries and conveniences of life." Then again take the sentence : — " Labour was the first price, the original purchase money, that was paid for all things." And no writer has a keener appreciation of the humanity of labour. Adam Smith knew nothing of the economic...

...exchange it for something else, is the toil and trouble which it can impose on other people. Labor was the first price, the original purchase money, that was paid for all things. ... If among a nation of hunters, for example, it usually costs twice the labor to kill a beaver which...

...explanation of the value relations between goods. But in chapter v the step is fully taken : Labor was the first price, the original purchase money that was paid for all things. It was .... by labor that all the wealth of the world was originally purchased; and its value to those .......

...blind. It glosses over the facts instead of exposing them.11 When Smith says, for instance, "Labour was the first price, the original purchase money that was paid for all things," 12 he overpersuades himself, more than he is aware, that the same is true in the same degree in all...

...preceding quotations, cost is thought of as labor expenditure, — the cost of toil and trouble. " 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...

...the toil and labor which it can save to himself, and which it can impose on other people. . . . Labor was the first price, the original purchase money, that was paid for all things. ... If among a nation of hunters, for example, it usually costs twice the labor to kill a beaver which...

...it is our favorite brand, or a slice of roast beef unless it has "the mark on the selvage." 6. Labor was the first price, the original purchase money that was paid for all things. If among a nation of hunters, for example, it usually costs twice the labor to kill a beaver that it...

...what we acquire by the toil of our own body. That money or those goods indeed save us this toil. Labor was the first price, the original purchase money that was paid for all things." (p. 26.) "Equal quantities of labor, at all times and at all places, may be said to be of equal value...