26 lines
640 B
Markdown
26 lines
640 B
Markdown
<!-- generated: provider=openrouter model=arcee-ai/trinity-large-preview:free date=2026-02-19 source=book-4-chapter-05 -->
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# Real Price
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## Definition
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The value of a commodity measured by the quantity of labour it can command
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or the amount of subsistence it can provide, representing its true economic
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worth independent of monetary fluctuations.
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## Source Chapter
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Book IV, Chapter 5
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## Context
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Smith emphasizes that real prices, not nominal prices, determine actual
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wealth and prosperity, using this distinction to critique bounties that
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raise nominal prices while potentially lowering real values.
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## Economic Domain
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Exchange
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---
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