“ The general industry of the society can never exceed what the capital of the society can employ. ”
Adam Smith, The Wealth of Nations (1776). copy citation
| Author | Adam Smith |
|---|---|
| Source | The Wealth of Nations |
| Topic | society industry |
| Date | 1776 |
| Language | English |
| Reference | An Inquiry into the Nature and Causes of the Wealth of Nations |
| Note | |
| Weblink | http://www.gutenberg.org/files/3300/3300-h/3300-h.htm |
Context
“That this monopoly of the home market frequently gives great encouragement to that particular species of industry which enjoys it, and frequently turns towards that employment a greater share of both the labour and stock of the society than would otherwise have gone to it, cannot be doubted. But whether it tends either to increase the general industry of the society, or to give it the most advantageous direction, is not, perhaps, altogether so evident.
The general industry of the society can never exceed what the capital of the society can employ. As the number of workmen that can be kept in employment by any particular person must bear a certain proportion to his capital, so the number of those that can be continually employed by all the members of a great society must bear a certain proportion to the whole capital of the society, and never can exceed that proportion.”
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