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
The wear and tear of a slave, it has been said, is at the expense of his
master; but that of a free servant is at his own expense. The wear and
tear of the latter, however, is, in reality, as much at the expense of his
master as that of the former. The wages paid to journeymen and servants of
every kind must be such as may enable them, one with another to continue
the race of journeymen and servants, according as the increasing,
diminishing, or stationary demand of the society, may happen to require.
But though the wear and tear of a free servant be equally at the expense
of his master, it generally costs him much less than that of a slave. The
fund destined for replacing or repairing, if I may say so, the wear and
tear of the slave, is commonly managed by a negligent master or careless
overseer. That destined for performing the same office with regard to the
freeman is managed by the freeman himself. The disorders which generally
prevail in the economy of the rich, naturally introduce themselves into
the management of the former; the strict frugality and parsimonious
attention of the poor as naturally establish themselves in that of the
latter. Under such different management, the same purpose must require
very different degrees of expense to execute it. It appears, accordingly,
from the experience of all ages and nations, I believe, that the work done
by freemen comes cheaper in the end than that performed by slaves. It is
found to do so even at Boston, New-York, and Philadelphia, where the wages
of common labour are so very high.
The liberal reward of labour, therefore, as it is the effect of increasing
wealth, so it is the cause of increasing population. To complain of it, is
to lament over the necessary cause and effect of the greatest public
prosperity.
It deserves to be remarked, perhaps, that it is in the progressive state,
while the society is advancing to the further acquisition, rather than
when it has acquired its full complement of riches, that the condition of
the labouring poor, of the great body of the people, seems to be the
happiest and the most comfortable. It is hard in the stationary, and
miserable in the declining state. The progressive state is, in reality,
the cheerful and the hearty state to all the different orders of the
society; the stationary is dull; the declining melancholy.
Public-domain text, read in full here on John Shaqi.
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