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Adam Smith ‘s book The Wealth of Nations, printed in Great Britain in 1776, distinguished between the outputs of what he termed productive” and unproductive” labor. The former, he said, produced goods that may very well be stored after production and subsequently exchanged for cash or different objects of worth. The latter, nonetheless helpful or mandatory, created providers that perished at the time of production and therefore didn’t contribute to wealth. Constructing on this theme, French economist Jean-Baptiste Say argued that manufacturing and consumption had been inseparable in companies, coining the term immaterial merchandise” to describe them.
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