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Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.
"Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods."— Adam Smith
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Meaning of this quote
Money's usefulness depends on the goods and services it can obtain.
Key takeaway:
Keep the purpose of money in view when discussing economic resources.
Origin of the quote
The Wealth of Nations (1776)
Who actually said this?
VerifiedWording located in the primary text; capitalization and punctuation may vary.
Source:
The Wealth of Nations (1776)
