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Labor was the first price, the original purchase - money that was paid for all things.

Labor was the first price, the original purchase - money that was paid for all things.


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Author introduction

Adam Smith FRSA (16 June [O.S. 5 June] 1723[3] – 17 July 1790) was a Scottish economist, philosopher and author as well as a moral philosopher, a pioneer of political economy and a key figure during the Scottish Enlightenment,[4] also known as ''The Father of Economics''[5] or ''The Father of Capitalism''.[6] Smith wrote two classic works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, often abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. In his work, Adam Smith introduced his theory of absolute advantage.[7]



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