Adam Smith quote about life from The Wealth of Nations - The value of money is in proportion to the quantity of the necessaries of life which it will purchase.
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The value of money is in proportion to the quantity of the necessaries of life which it will purchase.
 Adam Smith, The Wealth of Nations (1776). copy citation

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Author Adam Smith
Source The Wealth of Nations
Topic life money exchange
Date 1776
Language English
Reference An Inquiry into the Nature and Causes of the Wealth of Nations
Note
Weblink http://www.gutenberg.org/files/3300/3300-h/3300-h.htm

Context

“So far as the free importation of the necessaries of life reduced their average money price in the home market, it would reduce the money price of labour, but without reducing in any respect its real recompence. The value of money is in proportion to the quantity of the necessaries of life which it will purchase. That of the necessaries of life is altogether independent of the quantity of money which can be had for them. The reduction in the money price of labour would necessarily be attended with a proportionable one in that of all home manufactures, which would thereby gain some advantage in all foreign markets.” source

Meaning and analysis

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