The Works of Adam Smith, LL.D. and F.R.S. of London and Edinburgh:: The nature and causes of the wealth of nationsT. Cadell and W. Davies, 1811 |
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act of navigation advantageous againſt almoſt annual produce balance of trade becauſe befides BOOK bounty Britain Britiſh cafe carrying trade CHAP coin colonies commerce commodities confequence confiderable confumed corn cultivation diftant diminiſh duties Eaft employment England Engliſh eſtabliſhed Europe expence exportation faid fame manner fecurity feems feldom fent fhillings fhould filk firft firſt fmall fociety fome fometimes fomewhat foon foreign trade ftate ftill ftock fubfiftence fubject fuch fufficient fupply fuppofed fupport furplus produce fyftem gold and filver greater greateſt guilders home market impofed importation increaſe induſtry intereft itſelf land and labour leaſt lefs mafter manufactures merchant moft monopoly moſt muft muſt nations naturally neceffarily neceffary occafion otherwife perfon poffible Portugal pound weight pounds prefent productive labour profit prohibition proportion purchaſe purpoſe quantity raiſe reafon refpect revenue ſtate ſtill ſtock thefe themſelves theſe thofe thoſe thouſand tion trade of confumption uſe Weft whole
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181 ページ - ... every individual necessarily labours to render the annual revenue of the society as great as he can. He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it.
181 ページ - By preferring the support of domestic to that of foreign industry, he intends only his own security ; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention.
182 ページ - The statesman, who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself...
183 ページ - It is certainly not employed to the greatest advantage when it is thus directed towards an object which it can buy cheaper than it can make. The value of its annual produce is certainly more or less diminished when it is thus turned away from producing commodities evidently of more value than the commodity which it is directed to produce...
119 ページ - Thirdly, and lastly, commerce and manufactures gradually introduced order and good government, and with them the liberty and security of individuals, among the inhabitants of the country, who had before lived almost in a continual state of war with their neighbours, and of servile dependency upon their superiors.
186 ページ - ... is in this respect of no consequence. As long as the one country has those advantages, and the other wants them, it will always be more advantageous for the latter rather to buy of the former than to make. It is an acquired advantage only, which one artificer has over his neighbour, who exercises another trade; and yet they both find it more advantageous to buy of one another, than to make what does not belong to their particular trades.
167 ページ - It carries out that surplus part of the produce of their land and labour for which there is no demand among them, and brings back in return for it something else for which there is a demand. It gives a value to their superfluities, by exchanging them for something else, which may satisfy a part of their wants, and increase their enjoyments.
80 ページ - According to the natural course of things, therefore, the greater part of the capital of every growing society is, first, directed to agriculture, afterwards to manufactures,. and last of all to foreign commerce.
16 ページ - Every increase or diminution of capital, therefore, naturally tends to increase or diminish the real quantity of industry, the number of productive hands, and consequently the exchangeable value of the annual produce of the land and labour of the country, the real wealth and revenue of all its inhabitants.
46 ページ - The capital employed in agriculture, therefore, not only puts into motion a greater quantity of productive labour than any equal capital employed in manufactures, but in proportion too to the quantity of productive labour which it employs, it adds a much greater value to the annual produce of the land and labour of the country, to the real wealth and revenue of its inhabitants. Of all the ways in which a capital can be employed, it is by far the most advantageous to the society.