Labor Was The First Price, The Original

The Man Who Barely Abstains From Violating Either The Person, Or The Estate, Or The Reputation Of His Neighbours, Has Surely Very Little Positive Merit. He Fulfils, However, All The Rules Of What Is Peculiarly Called Justice, And Does Every Thing Which His Equals Can With Propriety Force Him To Do, Or Which They Can Punish Him For Not Doing. We May Often Fulfil All The Rules Of Justice By Sitting Still And Doing Nothing.

The Value Of Any Commodity, Therefore, To The Person Who Possesses It, And Who Means Not To Use Or Consume It Himself, But To Exchange It For Other Commodities, Is Equal To The Quantity Of Labour Which It Enables Him To Purchase Or Command. Labour, Therefore, Is The Real Measure Of The Exchangeable Value Of All Commodities. The Real Price Of Everything, What Everything Really Costs To The Man Who Wants To Acquire It, Is The Toil And Trouble Of Acquiring It.

When The Profits Of Trade Happen To Be Greater Than Ordinary, Over-trading Becomes A General Error Both Among Great And Small Dealers.

Civil Government, So Far As It Is Instituted For The Security Of Property, Is In Reality Instituted For The Defense Of The Rich Against The Poor, Or Of Those Who Have Some Property Against Those Who Have None At All.

He Is Led By An Invisible Hand To Promote An End Which Was No Part Of His Intention