Adam Smith's Simplified Wealth of Nations, Book 1, Chapter 11r: Rent: Conclusion

Chapter 11r: Conclusion

255 Every improvement in the society's circumstances tends to directly or indirectly: 256 The extension of improvement and cultivation raises it directly. 257 That rise in the real price of the rude produce of land is first the effect of extended improvement and cultivation. 258 The increase in productivity directly reduces the real price of manufactures.

259 "Every increase in the real wealth of the society, every increase in the quantity of useful labour employed within it, tends indirectly to raise the real rent of land."

260 The real rent of land and the real wealth of the landlord is all reduced by:

The Three Orders of People

261 The national annual produce of every country naturally divides itself into rent, wages, and profits;

It makes up a revenue to three orders of people:

  1. Those who live by rent
  2. Those who live by wages
  3. Those who live by profit.

"These are the three great, original, and constituent orders of every civilized society, from whose revenue that of every other order is ultimately derived."

262 The interest of those who live by rent is strictly and inseparably connected with the general interest of the society. 263 The interest of those who live by wages is as strictly connected with the interest of the society as those who live by rent. 264 His employers constitute those who live by profit.
Chapter 11: Appendix
Next: Chapter 1a: Division of Stock