Adam Smith：The Wealth of Nations, Book II, Chapter II, Paragraph 714

The whole expense of maintaining the fixed capital must evidently be excluded from the neat revenue of the society. Neither the materials necessary for supporting their useful machines and instruments of trade, their profitable buildings, etc. nor the produce of the labour necessary for fashioning those materials into the proper form, can ever make any part of it. The price of that labour may indeed make a part of it; as the workmen so employed may place the whole value of their wages in their stock reserved for immediate consumption. But in other sorts of labour, both the price and the produce go to this stock; the price to that of the workmen, the produce to that of other people, whose subsistence, conveniencies, and amusements, are augmented by the labour of those workmen.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book II, Chapter II, paragraph 714 · Verified：2026-10-19 · Verification：Exact match

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