...undertaken at the cost of happiness. Again he states "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."7 It is true that Adam Smith abandoned the strict labor B Smith, op. cit., p. 47. • Ibid., p....

...financial and social prices. In fact Adam Smith attached greater significance to the latter, holding that the real price of everything, what everything really...acquire it, is the toil and trouble of acquiring it. The concept of social price is entirely analogous to the economic idea of psychic income, the psychological...

...of both financial and social prices. ln fact Adam Smith attached greater significance to the latter: The real price of everything, what everything really...acquire it. is the toil and trouble of acquiring it (in Kotler 1975. p. 176). FOUR TYPES OF SOClAL PRlCE Four categories of resources are suggested as...

...classical emphasis on labor cost.1 He begins the chapter on labor with a famous quotation from Smith: "The real price of everything, what everything really...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." Jevons...

...directly related to the following section on subjective value). Smith observed: '. . . what every thing really costs to the man who wants to acquire it, is the toil and trouble of acquiring it' (Smith, 1776, p. 30). 'Trouble', of course, can include the risk and other burdens of the 'masters'....

...demand, resources will be withdrawn from production, and vice versa. of every thing, what every thing really costs to the man who wants to acquire it, is the toil and trouble of acquiring it" [45, p. 30]. '2 Smith's theory is considered naive on several counts. The primary problem is lack of...

...measure of the exchangeable value of all commoditites. 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. What every thing is really worth to the man who has acquired it, and who wants to dispose of it or exchange...

...P. 185 [Gl. edn, p. 165] p. 36 (Gl. edn, pp. 47-8) 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.* What every thing is really worth to the man who has acquired it, and who wants to dispose of it or exchange...

...RALPH WALDO EMERSON, (1803-1882) US essayist, poet, philosopher. Fortune of the Republic (Ì 87 8). 3 The real price of everything, what everything really...acquire it, is the toil and trouble of acquiring it. ADAM SMITH, (1 723-1 790) Scottish economist. The Wealth of Nations, vol. 1 , bk. 1 , ch. 5(1776)....

...mixture of financial and social costs. In fact, Adam Smith attached greater significance to the latter: "The real price of everything, what everything really...to acquire it, is the toil and trouble of acquiring it."9 Price refers to the indirect costs of time, inconvenience, social costs, and risks that riders...