markitect-main/examples/infospace-with-history/output/entities/toil-and-trouble-of-acquiring.md

Toil and Trouble of Acquiring

Definition

The actual effort, hardship, and difficulty involved in obtaining commodities or wealth, which Smith identifies as the real cost of acquisition and the fundamental measure of value.

Source Chapter

Book I, Chapter 5

Context

Smith uses this phrase to describe what commodities really cost to the person who wants to acquire them, arguing that this toil and trouble is the true measure of value rather than the monetary price.

Economic Domain

Exchange

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