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Adam Smith ‘s guide The Wealth of Nations, published in Nice Britain in 1776, distinguished between the outputs of what he termed “productive” and “unproductive” labor. The previous, he acknowledged, produced items that would possibly be saved after manufacturing and subsequently exchanged for cash or different devices of value. The latter, nonetheless useful or wanted, created services that perished on the time of producing and therefore did not contribute to wealth. Constructing on this theme, French economist Jean-Baptiste Say argued that manufacturing and consumption had been inseparable in services, coining the time period “immaterial merchandise” to elucidate them.
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