An inquiry into the nature and causes of the wealth of nations. A careful repr. of ed., 3 vols1875 |
From inside the book
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Page 20
... trade , but it is divided into a number of branches , of which the greater part are likewise peculiar trades . One man draws out the wire , another straightens it , a third cuts it , a fourth points it , a fifth grinds it at the top for ...
... trade , but it is divided into a number of branches , of which the greater part are likewise peculiar trades . One man draws out the wire , another straightens it , a third cuts it , a fourth points it , a fifth grinds it at the top for ...
Page 84
... trade in a town than in a country village . The great stocks employed in every branch of trade , and the number of rich competitors , generally reduce the rate of profit in the former below what it is in the latter . But the wages of ...
... trade in a town than in a country village . The great stocks employed in every branch of trade , and the number of rich competitors , generally reduce the rate of profit in the former below what it is in the latter . But the wages of ...
Page 85
... trade , I have been assured by British merchants who have traded in both countries , are higher in France than in England ; and it is no doubt upon this account that many British subjects choose rather to employ their capitals in a ...
... trade , I have been assured by British merchants who have traded in both countries , are higher in France than in England ; and it is no doubt upon this account that many British subjects choose rather to employ their capitals in a ...
Page 96
... trade which has no exclusive privilege , would quickly reduce them to a lower rate . The constancy or inconstancy of employment cannot affect the or- dinary profits of stock in any trade . Whether the stock is or is not constantly ...
... trade which has no exclusive privilege , would quickly reduce them to a lower rate . The constancy or inconstancy of employment cannot affect the or- dinary profits of stock in any trade . Whether the stock is or is not constantly ...
Page 101
... trade , and in some branches of foreign trade than in others ; in the trade to North America , for example , than in that to Jamaica . The ordinary rate of profit always rises more or less with the risk . It does not , however , seem to ...
... trade , and in some branches of foreign trade than in others ; in the trade to North America , for example , than in that to Jamaica . The ordinary rate of profit always rises more or less with the risk . It does not , however , seem to ...
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Common terms and phrases
act of parliament advantage afford altogether ancient annual produce augmented balance of trade bank bank of England bounty Britain bullion carried cattle cent circulating capital coin colonies commerce commodities commonly consequence consumed corn dealers demand diminish division of labour duties employed employment endeavour England equal established Europe exchange expense exportation farmer foreign trade France frequently gold and silver greater quantity importation increase industry inhabitants interest joint stock company land and labour landlord less maintain manner manufactures merchants metals money price monopoly nations natural price naturally necessarily necessary obliged occasion ordinary paid particular perhaps pound weight present productive labour profits of stock prohibition proportion proprietors purchase quantity of labour raise regulations rent revenue rude produce Scotland seems seignorage seldom shillings society sometimes sort sovereign subsistence sufficient supposed thousand pounds tion town value of silver villenage wages of labour wealth whole workmen
Popular passages
Page 525 - Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer.
Page 29 - Give me that which I want, and you shall have this which you want, is the meaning of every such offer; and it is in this manner that we obtain from one another the far greater part of those good offices which we stand in need of. It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity, but to their self-love, and never talk to them of our own necessities but of their...
Page 112 - The property which every man has in his own labour, as it is the original foundation of all other property, so it is the most sacred and inviolable.
Page 118 - People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice. But though the law cannot hinder people of the same trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies; much less to render them necessary.
Page 356 - 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, v Nor is it always the worse for the society that it was no part of it.
Page 276 - With regard to profusion, the principle which prompts to expense is the passion for present enjoyment; which, though sometimes violent and very difficult to be restrained, is in general only momentary and occasional. But the principle which prompts to save is the desire of bettering our condition, a desire which, though generally calm and dispassionate, comes with us from the womb, and never leaves us till we go into the grave.
Page 268 - Like the declamation of the actor, the harangue of the orator, or the tune of the musician, the work of all of them perishes in the very instant of its production.
Page 293 - 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.
Page 363 - By diminishing the number of sellers, therefore, we necessarily diminish that of buyers, and are thus likely not only to buy foreign goods dearer, but to sell our own cheaper, than if there was a more perfect freedom of trade. As defence, however, is of much more importance than opulence, the act of'navigation is, perhaps, the wisest of all the commercial regulations of England.
Page 40 - The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it. What everything is really worth to the man who has acquired it, and who wants to dispose of it or exchange it for something else, is the toil and trouble which it can save to himself, and which it can impose upon other 160 Rconomic Studies.