Annuals Quote by Adam Smith
“The annual produce of the land and labour of any nation can be increased in its value by no other means, but by increasing either the number of its productive labourers, or the productive powers of those labourers who had before been employed.”
About This Quote
Source Book: The Wealth of Nations, 1776
Economic growth comes from more workers or more productive workers.
In simple terms: More workers or higher productivity boost output.
Key Takeaway
Invest in labor numbers and skills.
Themes
economics
productivity
growth
Mood
analytical
optimistic
Type
economic
policy
When to use this quote
- policy making
- education reform
- business strategy
- development planning
Key Concepts
labor economics
human capital
Questions to Reflect On
- How can technology complement labor growth?
- What policies best raise productivity?
A Different Perspective
Ignores capital and technology roles.
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