Adam Smith's Simplified Wealth of Nations, Book 4, Chapter 7h: The Effects of Monopoly on the Nation

Chapter 7i: The Effects of Monopoly on the Nation

143 The monopoly hinders the country's capital from maintaining so great a quantity of productive labour as it would otherwise maintain. 144 By raising mercantile profits, the monopoly discourages land improvement. 145 The monopoly raises the mercantile profit rate and increases the gain of our merchants. 146 The original sources of revenue are wages, rent, and profits. 147 It is solely by raising the ordinary profit rate that the monopoly has proved advantageous to any order of men. 148 The single advantage the monopoly brings to a single order of men is in many ways hurtful to the country's interest. 149 Creating a great empire of customers may appear as a project good only for a nation of shopkeepers. 150 The maintenance of this monopoly was the sole end and purpose of British dominion over her colonies. Next: Chapter 7j: Colony Assemblies and Representation