An Inquiry Into the Nature and Causes of the Wealth of NationsSmith, Adam
General
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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