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
something, and two not able, at ten shillings a-week, or twenty-six pounds
a-year. If they cannot earn this by their labour, they must make it up, he
supposes, either by begging or stealing. He appears to have enquired very
carefully into this subject {See his scheme for the maintenance of the
poor, in Burn’s History of the Poor Laws.}. In 1688, Mr Gregory King,
whose skill in political arithmetic is so much extolled by Dr Davenant,
computed the ordinary income of labourers and out-servants to be fifteen
pounds a-year to a family, which he supposed to consist, one with another,
of three and a half persons. His calculation, therefore, though different
in appearance, corresponds very nearly at bottom with that of Judge Hales.
Both suppose the weekly expense of such families to be about twenty-pence
a-head. Both the pecuniary income and expense of such families have
increased considerably since that time through the greater part of the
kingdom, in some places more, and in some less, though perhaps scarce
anywhere so much as some exaggerated accounts of the present wages of
labour have lately represented them to the public. The price of labour, it
must be observed, cannot be ascertained very accurately anywhere,
different prices being often paid at the same place and for the same sort
of labour, not only according to the different abilities of the workman,
but according to the easiness or hardness of the masters. Where wages are
not regulated by law, all that we can pretend to determine is, what are
the most usual; and experience seems to shew that law can never regulate
them properly, though it has often pretended to do so.
Public-domain text, read in full here on John Shaqi.
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