Economists -- Great Britain -- Biography; Smith, Adam, 1723-1790
Looking now only at the lectures, we find that of the hundred pages into
which this first discourse on the _Wealth of Nations_ falls, eighty, or
four-fifths, are concerned with “cheapness or plenty,” in other words,
with “the most proper way of procuring wealth or abundance.” Cheapness
is synonymous with plenty, as dearness is synonymous with dearth. Water
is only cheap because it is plentiful, diamonds are costly only because
they are scarce. If we wish to find wherein opulence consists, we must
first consider what are the natural wants of mankind which are to be
supplied; “and if we differ from common opinions, we shall at least give
the reasons for our nonconformity.” So he sets about his task with a
theory of consumption simple, intelligible, and adequate. Food, clothes,
and lodgings are the threefold necessities of animal life. But most
animals find these wants sufficiently provided by nature. Man alone has
so delicate a constitution that no object is produced to his liking. So
he improves his food by cookery, and protects himself by fire, clothes,
and huts from the inclemency of the weather.
But as man’s physical delicacy requires much more provision than that of
any other animal, so does the same, or rather the much greater, delicacy
of his mind. Such is the nicety of his taste, that the very colour of an
object hurts or pleases. He is tired by uniformity, and loves variety
and change. The Indians gladly barter gems for the cheap toys of Europe.
Thus besides the threefold necessities of life a multitude of wants and
demands spring up to which agriculture, manufactures, arts, commerce,
and navigation are subservient; while the establishment of law and
government, “the highest effort of human prudence and wisdom,” enables
the different arts to flourish in peace and security.
Thus Smith arrives at the point from which the _Wealth of Nations_ was
to start. In an uncivilised nation, where labour is undivided, the
natural wants of mankind are provided for. But as civilisation advances
with the division of labour, the provision becomes more liberal, so that
“a common day-labourer in Britain has more luxury in his way of living
than an Indian sovereign.” The labourer’s comfort, indeed, is nothing to
that of the noble. Yet a European prince does not so far exceed a
commoner as the latter does the chief of a savage nation. “In a savage
nation,” he added, with a prophetic glance at Marx, “every one enjoys
the whole fruit of his own labour.” It is therefore the Division of
Labour that increases the opulence of a country. This is the kernel of
political economy, the inner keep round which this great architect of a
new science has built a fortress strong enough to protect society and to
preserve the fruit of men’s toil from the well-meaning unwisdom of their
governments. Not that Smith was insensible to the hardness of economic
laws, to the cruel inequalities of industry:—
Public-domain text, read in full here on John Shaqi.
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