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actual advance advantage agency agents agriculture amount annual applicable benefit branch called capital causes charge circulation circumstances coin commerce commodities consequently consumed consumption cost course cultivation demand derived direct dollars effect employed England equal established exchange existence expense facts foreign France give given gold greater hand human important increase individual industry instance interest kind knowledge labour land laws less limited loss manner manufacture matter means metal millions nature necessary never object observed obtained operation origin paid particular perhaps political economy population portion position possession present principles production profit proportion purchase quantity raised reason received reduced require respect result silver Smith society specie supply supposed taxation things tion trade utility wants wealth whole yield
Página 221 - Equal quantities of labour at all times and places may be said to be of equal value to the labourer. In his ordinary state of health, strength and spirits, in the ordinary degree of his skill and dexterity he must always lay down the same portion of his ease, his liberty, and his happiness.
Página lii - It is the great multiplication of the productions of all the different arts, in consequence of the division of labour, which occasions, in a well-governed society, that universal opulence which extends itself to the lowest ranks of the people.
Página 69 - ... the invention of a great number of machines which facilitate and abridge labour, and enable one man to do the work of many.
Página iv - ... binds together, by one common tie of interest and intercourse, the universal society of nations throughout the civilised world.
Página 149 - 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 fit to exercise it.
Página 149 - No regulation of commerce can increase the quantity of industry in any society beyond what its capital can maintain. It can only divert a part of it into a direction into which it might not otherwise have gone...
Página 221 - Of these, indeed, it may sometimes purchase a greater and sometimes a smaller quantity; but it is their value which varies, not that of the labour which purchases them.
Página 397 - America, in short, exclusive of those of Maryland and North Carolina, of which no exact account has been got, did not, before the commencement of the present disturbances, cost the inhabitants above £64,700 a year; an ever-memorable example at how small an expense three millions of people may not only be governed, but well governed.
Página iv - Under a system of perfectly free commerce, each country naturally devotes its capital and labour to such employments as are most beneficial to each. This pursuit of individual advantage is admirably connected with the universal good of the whole. By stimulating industry, by rewarding ingenuity, and by using most efficaciously the peculiar powers bestowed by nature, it distributes labour most effectively and most economically : while, by increasing the general mass of productions, it diffuses general...