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Adam Smith ‘s information The Wealth of Nations, printed in Nice Britain in 1776, distinguished between the outputs of what he termed “productive” and “unproductive” labor. The former, he stated, produced items that may be stored after manufacturing and subsequently exchanged for money or other gadgets of worth. The latter, nonetheless useful or vital, created services that perished on the time of production and due to this fact did not contribute to wealth. Constructing on this theme, French economist Jean-Baptiste Say argued that manufacturing and consumption have been inseparable in services, coining the time interval “immaterial merchandise” to explain them.
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