An Inquiry into the Nature and Causes of the Wealth of NationsSmith, Adam
History
An Inquiry into the Nature and Causes of the Wealth of Nations
Smith, Adam
Economics
Good roads, canals, and navigable rivers, by diminishing the expense of
carriage, put the remote parts of the country more nearly upon a level
with those in the neighbourhood of the town. They are upon that account
the greatest of all improvements. They encourage the cultivation of the
remote, which must always be the most extensive circle of the country.
They are advantageous to the town by breaking down the monopoly of the
country in its neighbourhood. They are advantageous even to that part of
the country. Though they introduce some rival commodities into the old
market, they open many new markets to its produce. Monopoly, besides, is a
great enemy to good management, which can never be universally
established, but in consequence of that free and universal competition
which forces every body to have recourse to it for the sake of self
defence. It is not more than fifty years ago, that some of the counties in
the neighbourhood of London petitioned the parliament against the
extension of the turnpike roads into the remoter counties. Those remoter
counties, they pretended, from the cheapness of labour, would be able to
sell their grass and corn cheaper in the London market than themselves,
and would thereby reduce their rents, and ruin their cultivation. Their
rents, however, have risen, and their cultivation has been improved since
that time.
A corn field of moderate fertility produces a much greater quantity of
food for man, than the best pasture of equal extent. Though its
cultivation requires much more labour, yet the surplus which remains after
replacing the seed and maintaining all that labour, is likewise much
greater. If a pound of butcher’s meat, therefore, was never supposed to be
worth more than a pound of bread, this greater surplus would everywhere be
of greater value and constitute a greater fund, both for the profit of the
farmer and the rent of the landlord. It seems to have done so universally
in the rude beginnings of agriculture.
Public-domain text, read in full here on John Shaqi.
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