Adam Smith's Simplified Wealth of Nations, Book 1, Chapter 10a, Part 1: Profit and wage inequality from the nature of the job or business itself -- Agreeableness and cost of job

Chapter 10a, Part 1: Profit and wage inequality in different Occupations and Businesses -- Agreeableness or cost of job

1The advantages and disadvantages of the different employments of labour and stock must be perfectly equal or continually tending to equality in the same neighbourhood.

2 Wages and profit in Europe are extremely different according to the different employments of labour and stock.

3 This chapter will be divided into those two parts.

Part 1: Inequalities arising from the Nature of the Employments themselves
4 Five principal circumstances create a small monetary gain in some employments and diminish or offset a gain in others:
  1. The agreeableness or disagreeableness of the employments
  2. The the difficulty and cost of learning them
  3. The constancy or inconstancy of employment in them
  4. The small or great trust which must be reposed in those who exercise them
  5. The probability or improbability of success in them.
  1. First, wages vary with the employment's:
6  Hunting and fishing are important employments in the rude state. 7 Disagreeableness and disgrace affect profits and wages in the same way. 8
  1. Secondly, wages vary with the difficulty and cost of learning the business.

10"The difference between the wages of skilled labour and those of common labour, is founded upon this principle."

11 The policy of Europe considers:

Although skilled labour seems more nice and delicate than common labour, it is not.

12 Education in the arts and in the liberal professions, is even more tedious and expensive. 13 Profits are very little affected by the ease or difficulty of learning the business.
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Next: Chapter 10b: Constancy and Trust