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according Adam Smith already amount answer appears argument borrower called capital capitalist cause century circumstances claim commodities complete conception consideration considered costs course criticism demand determined direct distinct doctrine economic edition employed entirely equal evidently exchange existence explain expression fact falls finally follows fruit further give given greater ground hand idea immediately important income increased independent kind labour land later less loan interest look machine material means natural necessary object obtained opinion origin owner paid passage payment possession possible practical present principle problem productive power profit proposition prove quantity question reason receive regards relation remains rent represents result Salmasius share simply speaking surplus value taken theoretical theory thing tion true undertaker usually wages wealth whole writers
Page 378 - The real price of every thing, what every thing really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.
Page 72 - As soon as stock has accumulated in the hands of particular persons, some of them will naturally employ it in setting to work industrious people, whom they will supply with materials and subsistence, in order to make a profit by the sale of their work, or by what their labour adds to the value of the materials.
Page 381 - If among a nation of hunters, for example, it usually costs twice the labour to kill a beaver which it does to kill a deer, one beaver should naturally exchange for or be worth two deer. It is natural that what is usually the produce of two days...
Page 381 - In that early and rude state of society which precedes both the accumulation of stock and the appropriation of land, the proportion between the quantities of labour necessary for acquiring different objects seems to be the only circumstance which can afford any rule for exchanging them for one another.
Page 71 - In exchanging the complete manufacture either for money, for labour, or for other goods, over and above what may be sufficient to pay the price of the materials, and the wages of the workmen, something must be given for the profits of the undertaker of the work, who hazards his stock in this adventure.
Page 73 - In this state of things, the whole produce of labour belongs to the labourer; and the quantity of labour commonly employed in acquiring or producing any commodity, is the only circumstance which can regulate the quantity of labour which it ought commonly to purchase, command, or exchange for.
Page 317 - I think it will be but a very modest computation to say that of the products of the earth useful to the life of man, nine-tenths are the effects of labour...
Page 317 - Nor is it so strange as, perhaps, before consideration, it may appear, that the property of labour should be able to overbalance the community of land, for it is labour indeed that puts the difference of value on everything; and let any one consider what the difference is between an acre of land planted with tobacco or sugar, sown with wheat or barley, and an acre of the same land lying in common without any...
Page 411 - As the wages of the labourer are the remuneration of labour, so the profits of the capitalist are properly, according to Mr. Senior's well-chosen expression, the remuneration of abstinence. They are what he gains by forbearing to consume his capital for his own uses, and allowing it to be consumed by productive labourers for their uses. For this forbearance he requires a recompense.