Investing · Western classics
Adam Smith:The Wealth of Nations, Book I, Chapter VII, Paragraph 173
Adam Smith《The Wealth of Nations》· Book I, Chapter VII · Investing
The market price of any particular commodity, though it may continue long above, can seldom continue long below, its natural price. Whatever part of it was paid below the natural rate, the persons whose interest it affected would immediately feel the loss, and would immediately withdraw either so much land or so much labour, or so much stock, from being employed about it, that the quantity brought to market would soon be no more than sufficient to supply the effectual demand. Its market price, therefore, would soon rise to the natural price; this at least would be the case where there was perfect liberty.
Source:
https://www.gutenberg.org/ebooks/3300
Locator:Book I, Chapter VII, paragraph 173 · Verified:2026-10-19 · Verification:Exact match
This is a direct reading: the original and source are kept; commentary will be added later.
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Does this passage change one judgment about money or risk today?
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