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 particular consideration, first, of those parts of the produce of
land which always afford some rent; secondly, of those which sometimes
may and sometimes may not afford rent; and, thirdly, of the variations
which, in the different periods of improvement, naturally take place in
the relative value of those two different sorts of rude produce, when
compared both with one another and with manufactured commodities, will
divide this chapter into three parts.
PART I.--_Of the Produce of Land which always affords Rent._
As men, like all other animals, naturally multiply in proportion to the
means of their subsistence, food is always more or less in demand. It
can always purchase or command a greater or smaller quantity of labour,
and somebody can always be found who is willing to do something in order
to obtain it. The quantity of labour, indeed, which it can purchase, is
not always equal to what it could maintain, if managed in the most
economical manner, on account of the high wages which are sometimes
given to labour; but it can always purchase such a quantity of labour as
it can maintain, according to the rate at which that sort of labour is
commonly maintained in the neighbourhood.
But land, in almost any situation, produces a greater quantity of food
than what is sufficient to maintain all the labour necessary for
bringing it to market, in the most liberal way in which that labour is
ever maintained. The surplus, too, is always more than sufficient to
replace the stock which employed that labour, together with its profit.
Something, therefore, always remains for a rent to the landlord.
The most desert moors in Norway and Scotland produce some sort of
pasture for cattle, of which the milk and the increase are always more
than sufficient, not only to maintain all the labour necessary for
tending them, and to pay the ordinary profit to the farmer or the owner
of the herd or flock, but to afford some small rent to the landlord. The
rent increases in proportion to the goodness of the pasture. The same
extent of ground not only maintains a greater number of cattle, but as
they are brought within a smaller compass, less labour becomes requisite
to tend them, and to collect their produce. The landlord gains both
ways; by the increase of the produce, and by the diminution of the
labour which must be maintained out of it.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account