Investing · Western classics

Adam Smith:The Wealth of Nations, Book I, Chapter XI, Paragraph 562

Adam Smith《The Wealth of Nations》· Book I, Chapter XI · Investing

But the ordinary proportion between the respective values of two commodities is not necessarily the same as that between the quantities of them which are commonly in the market. The price of an ox, reckoned at ten guineas, is about three score times the price of a lamb, reckoned at 3s. 6d. It would be absurd, however, to infer from thence, that there are commonly in the market three score lambs for one ox; and it would be just as absurd to infer, because an ounce of gold will commonly purchase from fourteen or fifteen ounces of silver, that there are commonly in the market only fourteen or fifteen ounces of silver for one ounce of gold.

Source: https://www.gutenberg.org/ebooks/3300
Locator:Book I, Chapter XI, paragraph 562 · Verified:2026-10-19 · Verification:Exact match

This is a direct reading: the original and source are kept; commentary will be added later.

Today's question

Does this passage change one judgment about money or risk today?

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