...1961] and in Johansen's 1961 note [11]. 1 In The wealth of nations [34, 1776], Book I, Ch. VI, we find: "In that early and rude state of society which precedes...accumulation of stock and the appropriation of land, the proportions between the quantities of labour necessary for acquiring different objects seems to be...

...Labour was the first price — ihe original purchase-money that was paid for all things." ^gain, " in that early and rude state of society which precedes both the accumulation of siock and the appropriation of land, the proportion between the quantities of labour necessary for...

...never varying in its own value, is the sole ultimate, and real standard, 12. His doctrine correct, that the proportion between the quantities of labour necessary for acquiring different objects, is the only circumstance which can afford any rule for exchanging them, 13. Quoted as to the difficulty...