markitect-main/examples/infospace-with-history/output/entities/value-of-gold.md

Value of Gold

Definition

The purchasing power of gold in terms of the labour or commodities it can command, which Smith discusses in relation to silver and shows varies with changes in mine productivity and market conditions.

Source Chapter

Book I, Chapter 5

Context

Smith examines how the value of gold relates to silver and other commodities, showing how changes in its value affect the overall monetary system.

Economic Domain

Exchange

---