On the record
As Adam Smith said, low profits ultimately mean a reduction of wages, and low wages mean a reduced consumption by the worker.
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Petr Alekseevich Kropotkin
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gutenberg.orgPetr Alekseevich Kropotkin: “As Adam Smith said, low profits ultimately mean a reduction of wages, and low wages mean a reduced consumption by the…”
Editor's note · Context
Kropotkin quotes Adam Smith to illustrate the relationship between low profits and reduced wages, emphasizing its broader economic implications.
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