Author: Adam Smith

Publishing House: People's Daily Publishing House

ISBN: 978-7-80208-788-0

The great improvement of social productivity, human labor skills and thinking judgment is the result of division of labor. Division of labor improves the working efficiency of workers and accelerates the accumulation of social wealth.

Division of labor is not the result of human wisdom, but the natural tendency of human beings to exchange needed goods and trade with each other.

With the alternation of seasons, farmers need to carry out different kinds of field work. It is impossible for farmers to engage in any of them permanently, and it is impossible to completely divide the same kind of work. This may be one of the reasons why the improvement of agricultural productivity can never catch up with the manufacturing industry.

The fineness of social division of labor is a reference standard to measure the economic level.

If you give me what I want, you can get what you want. This is the meaning of every transaction.

The difference between different occupations is not because of talent, but because of habits, customs and education.

Exchange capacity produces division of labor, so the degree of division of labor is bound to be limited by the size of exchange capacity, that is, the degree of division of labor is limited by the size of the market.

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The first social division of labor: the development of animal husbandry in some areas led to frequent exchanges between tribes, obstacles and efforts, exploitation and exploitation, private ownership, the gradual decline of matriarchal clans, the immobilization of paternal clans and the transition to individual families.

The second social division of labor: handicraft industry was separated from agriculture, which led to direct exchange production, that is, commodity production, which promoted the expansion of production scale and the improvement of labor productivity. Surplus products increased, slavery further developed, and there was a gap between the rich and the poor.

The third social division of labor: the emergence of the merchant class separated from production in the late slave society. It promoted the consolidation and development of slavery, began to accumulate commercial capital, and mental labor began to be separated from manual labor.

Money has four functions: accounting unit (measurement), medium of exchange, value storage (non-circulation) and deferred payment (borrowing).

Metal as currency has two major inconveniences: one is the trouble of weighing, and the other is the same measurement.

The real price of a commodity is a certain amount of necessities and conveniences, and its nominal price is a certain amount of money.

Labor is the only measure to measure the true value of goods.

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Standard currency: the standard currency stipulated by a country's monetary system.

In the first half of the 20th century, 1 pound =20 shillings, 1 shilling =12p.

197 1.2 new currency carry system, 1 GBP = 100 new pence.

Whether the laborer is poor or rich, his labor remuneration level is directly proportional to the real price of labor rather than the nominal price.

As far as the price of an article is concerned, 100 grain is more suitable than silver, because the same amount of grain is easier to dominate the same amount of labor than the same amount of silver. On the contrary, in terms of estimating the annual price of goods, silver is better than grain, because the same amount of silver can dominate the same amount of labor than the same amount of grain in the intermittent time.

Henry VIII,16th century, Reformation, old bronze nose.

The criterion for judging whether a country's currency is accurate as a measure of value: the consistency between the prevailing currency and its representative standard or the pure metal content of coins.

The price of commodity currency refers to the amount of pure gold or pure silver obtained by selling this commodity, regardless of the name of the coin.

The price of commodities mainly based on original products depends on workers' wages, profits and land rent. The price of goods processed from raw materials depends on the value of raw materials, as well as the wages of workers and the profits of employers, which are all value-added parts of goods.

The products of all working years in a country can be used as wages of workers and profits of investors.