markitect-main/examples/infospace-with-history/output/entities/real-price.md

Real Price

Definition

The value of a commodity measured by the quantity of labour it can command or the amount of subsistence it can provide, representing its true economic worth independent of monetary fluctuations.

Source Chapter

Book IV, Chapter 5

Context

Smith emphasizes that real prices, not nominal prices, determine actual wealth and prosperity, using this distinction to critique bounties that raise nominal prices while potentially lowering real values.

Economic Domain

Exchange

---