Files
markitect-main/examples/infospace-with-history/output/entities/exchange.md
tegwick 2d1282a61e feat(infospace): flat canonical entity set with cross-chapter deduplication
Restructure entity storage from per-chapter subdirectories to a flat
canonical set in output/entities/. Each entity exists as a single file;
duplicates across chapters are detected by slug collision and skipped
(first occurrence wins). Chapter views use {{ include }} transclusion
to reference shared entity files.

Add @{existing_entities} macro to extract-entities template so the LLM
knows which entities already exist and focuses on genuinely new ones.
Refactor _call_llm() from _execute_llm() for callers that handle their
own file I/O. 41 unique entities from 4 chapters (2 duplicates removed).

Co-Authored-By: Claude Opus 4.6 <noreply@anthropic.com>
2026-02-11 22:24:20 +01:00

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Exchange

Definition

The act of trading one's surplus production for the goods produced by others. Smith presents exchange as the mechanism by which the division of labour translates into universal opulence: each workman disposes of their surplus output and receives in return the surplus of others, so that all are supplied beyond what any individual could produce alone.

Source Chapter

Book I, Chapter 1: "Of the Division of Labour"

Context

Exchange appears in the chapter's conclusion as the connecting mechanism between specialised production and general welfare. Smith implicitly treats it as prerequisite to the division of labour (explored further in Chapter 2), since specialisation only benefits workers if they can trade their surplus.

Economic Domain

Exchange

Smith's Original Wording

"Every workman has a great quantity of his own work to dispose of beyond what he himself has occasion for; and every other workman being exactly in the same situation, he is enabled to exchange a great quantity of his own goods for a great quantity or, what comes to the same thing, for the price of a great quantity of theirs."