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Author: Adam Smith

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Labour, it must always be remembered, and not any particular
commodity, or set of commodities, is the real measure of the
value both of silver and of all other commodities.
But in countries almost waste, or but thinly inhabited, cattle,
poultry, game of all kinds, etc. as they are the spontaneous
productions of Nature, so she frequently produces them in much
greater quantities than the consumption of the inhabitants
requires. In such a state of things, the supply commonly exceeds
the demand. In different states of society, in different states
of improvement, therefore, such commodities will represent, or be
equivalent, to very different quantities of labour.

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