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
Masters of all sorts, therefore, frequently make better bargains with
their servants in dear than in cheap years, and find them more humble and
dependent in the former than in the latter. They naturally, therefore,
commend the former as more favourable to industry. Landlords and farmers,
besides, two of the largest classes of masters, have another reason for
being pleased with dear years. The rents of the one, and the profits of
the other, depend very much upon the price of provisions. Nothing can be
more absurd, however, than to imagine that men in general should work less
when they work for themselves, than when they work for other people. A
poor independent workman will generally be more industrious than even a
journeyman who works by the piece. The one enjoys the whole produce of his
own industry, the other shares it with his master. The one, in his
separate independent state, is less liable to the temptations of bad
company, which, in large manufactories, so frequently ruin the morals of
the other. The superiority of the independent workman over those servants
who are hired by the month or by the year, and whose wages and maintenance
are the same, whether they do much or do little, is likely to be still
greater. Cheap years tend to increase the proportion of independent
workmen to journeymen and servants of all kinds, and dear years to
diminish it.
A French author of great knowledge and ingenuity, Mr Messance, receiver of
the tallies in the election of St Etienne, endeavours to shew that the
poor do more work in cheap than in dear years, by comparing the quantity
and value of the goods made upon those different occasions in three
different manufactures; one of coarse woollens, carried on at Elbeuf; one
of linen, and another of silk, both which extend through the whole
generality of Rouen. It appears from his account, which is copied from the
registers of the public offices, that the quantity and value of the goods
made in all those three manufactories has generally been greater in cheap
than in dear years, and that it has always been greatest in the cheapest,
and least in the dearest years. All the three seem to be stationary
manufactures, or which, though their produce may vary somewhat from year
to year, are, upon the whole, neither going backwards nor forwards.
Public-domain text, read in full here on John Shaqi.
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