regards price commodities, rise wages operates simple interest does, r — Adam Smith, Wealth Nations

Norway Timelapse
PlayPlay

previous arrow
next arrow
Norway Timelapse
Budapest Timelapse
Iceland Timelapse
Berlin Timelapse
London Timelapse
previous arrow
next arrow

In regards to the price of commodities, the rise of wages operates as simple interest does, the rise of profit operates like compound interest. Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.

Adam Smith, The Wealth of Nations

Related Authors: Adam Smith | The Wealth of Nations

Related Topics: business, class-warfare, economics, labor, money, profit

Leave a Reply

Your email address will not be published. Required fields are marked *