Discover and read the best of Twitter Threads about #profitsfromstock
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We know what you're thinking: Yay! All done with #AdamSmith's theory of prices! Labor and gold, that's where it's at. Right? Ha ha! WRONG! All prices have three components: wages, profit, and rent. Let's tweet about them! (I.vi.10) #WealthOfTweets #SmithTweets
(Don't panic. Smith still says the real VALUE of all the parts of a price comes down to how much labor they can purchase or command. But today we're only talking about price.) (I.vi.9) #WealthOfTweets #SmithTweets
So if all we're just hunting/gathering/trading, then all we have to worry about paying for labor (wages). That's where all exchangeable value comes from. But in advanced market societies, there's more going on. (I.vi.1-4) #WealthOfTweets #SmithTweets
