Acquire Quote by Adam Smith
“The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command. Labour, therefore, is the real measure of the exchangeable value of all commodities. The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.”
About This Quote
Source Book: The Wealth of Nations, 1776
Value of a commodity is measured by the labour it can command, not by personal use.
In simple terms: Value equals labour it can buy.
Key Takeaway
Consider labour cost when valuing goods.
Themes
economics
value
labour
exchange
measurement
Mood
analytical
critical
Type
economic
philosophical
When to use this quote
- pricing goods
- budgeting
- cost analysis
- production planning
Key Concepts
Labor theory of value
commodity exchange
Questions to Reflect On
- How does labour theory apply to digital goods?
- Can value be measured without labour?
A Different Perspective
Ignores non‑labour factors like scarcity or utility.
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