Incidentally, it should also be noted that when Smith speaks of "subsistence income" he does not mean the minimal survivable income. Rather, he means the income that allows a labourer to function in society, while also raising enough children to maintain population. So in a society in which a labourer is expected to be bathed and shaven, soap and razors are part of the subsistence income, even though there is no strictly biological reason to regard them as such.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.