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BOOK III.

Of the different Progrefs of Opulence in different Nations.

CHAP. I.

Of the natural Progress of Opulence

CHA P. II.

Of the Difcouragement of Agriculture in the ancient State of Europe after the Fall of the Roman Empire

Page 73

CHA P. III.

Of the Rife and Progrefs of Cities and Towns, after the Fall of the Roman Empire

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CHA P. IV.

How the Commerce of the Towns contributed to the Improvement of the Country

81

99

117

BOOK IV.

Of Systems of political Oeconomy.

INTRODUCTION

Page 138

CHAP. I.

Of the Principle of the commercial, or mercantile Syftem

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CHA P. II.

Of Restraints upon the Importation from foreign Countries of fuch Goods as can be produced at Home

CHA P. III.

Of the extraordinary Reftraints upon the Importation of Goods of almost all Kinds, from thofe Countries with which the Balance is fuppofed to be difadvantageous

Digreffion concerning Banks of Depofit, particularly concerning that of Amfterdam

139

PART II. Of the Unreasonableness of those extraordinary Restraints upon other Principles

176

PART I. Of the Unreasonableness of thofe Restraints even upon the Principles of the Commercial Syftem ibid.

209

219

235

AN

ÍNQUIRY

ΙΝΤΟ THE

NATURE AND CAUSES

OF THE

WEALTH OF NATIONS.

BOOK II. ·

1

CHA P. III.

Of the Accumulation of Capital, or of productive and unproductive Labour.

TH

II.

II.

A

HERE is one fort of labour which BOOK adds to the value of the fubject upon c H A P. which it is bestowed: there is another which has no fuch effect. The former, as it produces a value, may be called productive; the latter, unproductive labour. Thus the labour of a manufacturer adds, generally, to the value of the materials which he works upon, that of his own

*

A

* Some French authors of great learning and ingenuity have used those words in a different fenfe. In the last chapter of the fourth book, I fhall endeavour to fhow that their fenfe is an improper one.

VOL. II.

B

mainte

II.

BOOK maintenance, and of his master's profit. The labour of a menial fervant, on the contrary, adds to the value of nothing. Though the manufacturer has his wages advanced to him by his master, he, in reality, cofts him no expence, the value of those wages being generally restored, together with a profit, in the improved value of the fubject upon which his labour is bestowed. But the maintenance of a menial fervant never is restored. A man grows rich by employing á multitude of manufacturers: he grows poor, by maintaining a multitude of menial fervants. The labour of the latter, however, has its value, and deferves its reward as well as that of the former. But the labour of the manufacturer fixes and realizes itself in fome particular fubject or vendible commodity, which lafts for fome time at least after that labour is past. It is, as it were, a certain quantity of labour stocked and stored up to be employed, if neceffary, upon fome other occafion. That fubject, or what is the fame thing, the price of that fubject, can afterwards, if necefiary, put into motion a quantity of labour. equal to that which had originally produced it. The labour of the menial fervant, on the contrary, does not fix or realize itself in any particular fubject or vendible commodity. His fervices generally perish in the very inftant of their performance, and feldom leave any trace or value behind them, for which an equal quantity of fervice could afterwards be procured.

THE labour of fome of the most refpectable orders in the fociety is, like that of menial fer

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