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The Wealth of Nations
THE annual labor of every nation is the fund that originally supplies it with all the necessaries and conveniences of life which it annually consumes.
And which consist always either in the immediate produce of that labor 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 conveniences 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 labor is generally applied.
And, secondly, by the proportion between the number of those who are employed in useful labor, 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.
The abundance or scantiness of this supply too seems to depend This word, with “annually” just below, at ance marks the transition from the cider.
British economist’s ordinary practice of regarding the wealth of a nation as an accumulated fund.
Following the physiocrats, Smith sens that the important thing is how much can be produced = a given time. “Cp. will this phrase Locke.
Some Considerations of the Consequences of the Lowering of Interest and Raising the Value of Money, ed of 1695 p. 66.
“The intrinsic natural worth of anything consists in its fitness to ply the necessities c serve the conservancies of human use.
“The implication that the nation’s welfare is to be reckoned by the av crate welfare of its members, not by the aggregate, is to be noticed.
| Author | Adam Smith |
| Language | English |
| Pages | 1042 |
| PDF Size | 100.1 MB |
| Category | Philosophy |
The Wealth of Nations Book PDF Free Download