In regards to the price of commodities, the rise of wages operates as simple interest does, the rise of profit operates like compound interest. Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people. Adam Smith
About This Quote

Adam Smith wrote in The Wealth of Nations about the relationship between wages and commodities. He said, “In regards to the price of commodities, the rise of wages operates as simple interest does, the rise of profit operates like compound interest. Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing concerning the bad effects of high profits.

They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.”

Source: The Wealth Of Nations

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