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
He proves, that, in conformity to that desire to better our condition,
by which all men are directed, and upon which the author has founded his
whole doctrine, the teacher, whose wages are a fixed salary, will have
no other end than to spare himself every trouble, and dedicate as little
attention as possible to his pupils; while he that is paid in proportion
to his labour, will naturally endeavour, by every means in his power, to
increase his success, at the same time that he confers a great advantage
on his scholars and on society. He confirms his theoretical opinions by
incontestible examples---book 5, chap. i. part 3.
The superiority of regular troops over national militia is proved in
theory, by the division of labour; and in practice, by the most
remarkable facts in history--book 5, chap. i, part 1.
AN INQUIRY INTO THE NATURE AND CAUSES OF THE WEALTH OF NATIONS.
INTRODUCTION AND PLAN OF THE WORK.
The annual labour of every nation is the fund which originally supplies
it with all the necessaries and conveniencies of life which it annually
consumes, and which consist always either in the immediate produce of
that labour, or in what is purchased with that produce from other
nations.
According, therefore, as this produce, or what is purchased with it,
bears a greater or smaller proportion to the number of those who are to
consume it, the nation will be better or worse supplied with all the
necessaries and conveniencies for which it has occasion.
But this proportion must in every nation be regulated by two different
circumstances: first, by the skill, dexterity, and judgment with which
its labour is generally applied; and, secondly, by the proportion
between the number of those who are employed in useful labour, and that
of those who are not so employed. Whatever be the soil, climate, or
extent of territory of any particular nation, the abundance or
scantiness of its annual supply must, in that particular situation,
depend upon those two circumstances.
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