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

Value of Silver

Definition

The purchasing power of silver in terms of the labour or commodities it can command, which Smith shows varies over time due to changes in mine productivity and market conditions.

Source Chapter

Book I, Chapter 5

Context

Smith examines how the value of silver affects prices and the real value of money rents, using historical examples to show how its value has changed over time.

Economic Domain

Exchange

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