aka007 's List: The Wealth of Nations by Adam Smith

• productive
• division of labour
• great manufactures

1 more annotation...

• EVERY man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life.
• Labour
• quantity of labour which it can enable them to purchase or command.

  • How do they compare the labour of a CEO of a large software company to the labour of, say, the ship captain?
• the extent of this power which it conveys to its owner

  • Quantity of labour = wealth = extent of power to purchase conveyed to the owner
• higgling and bargaining

  • Somehow, it is hoped that the labour can be quantified by market forces.
• • If commodity is allowed to be measured using other commodities, we must make sure that the value of these commodities is quantified in terms of labour in the first place if we wish to remain faithful to our earlier definition.

4 more annotations...

• the quantity and uniform goodness of those different commodities when brought to market.

• to avoid the inconveniency
• divided into any number of parts