Words    Words    Words

Page 216: “Every improvement in the circumstances of society tends either directly or indirectly to raise the real rent of the land, to increase the real wealth of the landlord, his power of purchasing labor, or the produce of the labor of other people.”
“All those improvements in the productive powers of labor, which tend directly [...]

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Page 194: “In call new colones the great quantity of waste land, which can for many years be applied to no other purpose but the feeding of cattle, soon renders them extremely abundant, and in every thing great cheapness is the necessary consequence of great abundance.”
Page 197: “In the progress of improvement, the period at [...]

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Page 171: “Human food seems to be the only produce of land which always and necessarily affords some rent to the landlord.”
Page 172: “Land in its original rude state can afford the materials of cloathing and lodging to a much greater number of people than it can feed.”  I wonder if this is true of, [...]

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This chapter has been brutal.  When Smith separated profit as a special part of value I could understand him, even if I didn’t agree; but separating rent out confused me; I had to read this chapter several times.  I think I may have finally gotten somewhere; we’ll see if the conclusions I’ve drawn make any [...]

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