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Adam Smith ‘s guide The Wealth of Nations, revealed in Great Britain in 1776, distinguished between the outputs of what he termed “productive” and “unproductive” labor. The former, he said, produced goods that could possibly be stored after manufacturing and subsequently exchanged for cash or other objects of worth. The latter, however useful or mandatory, created providers that perished at the time of manufacturing and due to this fact didn’t contribute to wealth. Constructing on this theme, French economist Jean-Baptiste Say argued that manufacturing and consumption had been inseparable in services, coining the term “immaterial merchandise” to describe them.
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