"Labor was the first price, the original purchase - money that was paid for all things"

Adam Smith's quote is a pointer of the significance of labor in the economy. He is stating that labor is the structure of all economic activity. Labor is the very first price that is spent for goods and services, and it is the initial purchase that is made in the economy. This quote emphasizes the worth of labor and the value of acknowledging the contributions of workers. It likewise highlights the need for reasonable earnings and working conditions. Smith's quote is a pointer that labor is the structure of the economy and ought to be respected and valued. Without labor, there would be no economic activity and no goods or services to purchase. For that reason, it is vital to recognize the worth of labor and guarantee that employees are treated relatively and compensated sufficiently for their work.