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
Land, in its original rude state, can afford the materials of clothing and
lodging to a much greater number of people than it can feed. In its
improved state, it can sometimes feed a greater number of people than it
can supply with those materials; at least in the way in which they require
them, and are willing to pay for them. In the one state, therefore, there
is always a superabundance of these materials, which are frequently, upon
that account, of little or no value. In the other, there is often a
scarcity, which necessarily augments their value. In the one state, a
great part of them is thrown away as useless and the price of what is used
is considered as equal only to the labour and expense of fitting it for
use, and can, therefore, afford no rent to the landlord. In the other,
they are all made use of, and there is frequently a demand for more than
can be had. Somebody is always willing to give more for every part of
them, than what is sufficient to pay the expense of bringing them to
market. Their price, therefore, can always afford some rent to the
landlord.
The skins of the larger animals were the original materials of clothing.
Among nations of hunters and shepherds, therefore, whose food consists
chiefly in the flesh of those animals, everyman, by providing himself with
food, provides himself with the materials of more clothing than he can
wear. If there was no foreign commerce, the greater part of them would be
thrown away as things of no value. This was probably the case among the
hunting nations of North America, before their country was discovered by
the Europeans, with whom they now exchange their surplus peltry, for
blankets, fire-arms, and brandy, which gives it some value. In the present
commercial state of the known world, the most barbarous nations, I
believe, among whom land property is established, have some foreign
commerce of this kind, and find among their wealthier neighbours such a
demand for all the materials of clothing, which their land produces, and
which can neither be wrought up nor consumed at home, as raises their
price above what it costs to send them to those wealthier neighbours. It
affords, therefore, some rent to the landlord. When the greater part of
the Highland cattle were consumed on their own hills, the exportation of
their hides made the most considerable article of the commerce of that
country, and what they were exchanged for afforded some addition to the
rent of the Highland estates. The wool of England, which in old times,
could neither be consumed nor wrought up at home, found a market in the
then wealthier and more industrious country of Flanders, and its price
afforded something to the rent of the land which produced it. In countries
Public-domain text, read in full here on John Shaqi.
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