Adam Smith's Simplified Wealth of Nations Book 3, Chapter 1: Natural economic development

Chapter 1: Natural economic development

1 The great commerce of every civilized society is the one done between the people of the town and those of the countryside.

2 Subsistence is prior to convenience and luxury.

3 Man's natural inclinations promotes that order of things in every country. 4 Without the assistance of some artificers, land cultivation cannot be done without great inconvenience and continual interruption. 5 In our North American colonies, uncultivated land is still available on easy terms. 6 On the contrary, in countries where there is no uncultivated land or none that can be had easily, every artificer with extra stock endeavours to use it for more distant sale. 7 Manufactures are naturally preferred to foreign commerce, upon equal profits, for the same reason that agriculture is naturally preferred to manufactures. 8 Most of the capital of every growing society is naturally directed: This order is so very natural that I believe it has been observed to some degree in every society. 9 Though this natural order must have taken place in some degree in every society, it was entirely inverted in all modern European states.
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Next: Chapter 2: Land engrossment