WEALTH OF NATIONS

第4章

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第4章

WEALTH OF NATIONS Adam Smith

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WEALTH OF NATIONS
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  Butthewholepriceofanycommoditymuststillfinallyresolveitselfintosomeoneorother,orallofthosethreeparts;aswhateverpartofitremainsafterpayingtherentoftheland,andthepriceofthewholelabouremployedinraising,manufacturing,andbringingittomarket,mustnecessarilybeprofittosomebody。

  Asthepriceorexchangeablevalueofeveryparticularcommodity,takenseparately,resolvesitselfintosomeoneorotherorallofthosethreeparts;sothatofallthecommoditieswhichcomposethewholeannualproduceofthelabourofeverycountry,takencomplexly,mustresolveitselfintothesamethreeparts,andbeparcelledoutamongdifferentinhabitantsofthecountry,eitherasthewagesoftheirlabour,theprofitsoftheirstock,ortherentoftheirland。Thewholeofwhatisannuallyeithercollectedorproducedbythelabourofeverysociety,orwhatcomestothesamething,thewholepriceofit,isinthismanneroriginallydistributedamongsomeofitsdifferentmembers。Wages,profit,andrent,arethethreeoriginalsourcesofallrevenueaswellasofallexchangeablevalue。Allotherrevenueisultimatelyderivedfromsomeoneorotherofthese。

  Whoeverderiveshisrevenuefromafundwhichishisown,mustdrawiteitherfromhislabour,fromhisstock,orfromhisland。Therevenuederivedfromlabouriscalledwages。Thatderivedfromstock,bythepersonwhomanagesoremployesit,iscalledprofit。Thatderivedfromitbythepersonwhodoesnotemployithimself,butlendsittoanother,iscalledtheinterestortheuseofmoney。Itisthecompensationwhichtheborrowerpaystothelender,fortheprofitwhichhehasanopportunityofmakingbytheuseofthemoney。Partofthatprofitnaturallybelongstotheborrower,whorunstheriskandtakesthetroubleofemployingit;andparttothelender,whoaffordshimtheopportunityofmakingthisprofit。Theinterestofmoneyisalwaysaderivativerevenue,which,ifitisnotpaidfromtheprofitwhichismadebytheuseofthemoney,mustbepaidfromsomeothersourceofrevenue,unlessperhapstheborrowerisaspendthrift,whocontractsaseconddebtinordertopaytheinterestofthefirst。Therevenuewhichproceedsaltogetherfromland,iscalledrent,andbelongstothelandlord。Therevenueofthefarmerisderivedpartlyfromhislabour,andpartlyfromhisstock。Tohim,landisonlytheinstrumentwhichenableshimtoearnthewagesofthislabour,andtomaketheprofitsofthisstock。Alltaxes,andantherevenuewhichisfoundeduponthem,allsalaries,pensions,andannuitiesofeverykind,areultimatelyderivedfromsomeoneorotherofthosethreeoriginalsourcesofrevenue,andarepaideitherimmediatelyormediatelyfromthewagesoflabour,theprofitsofstock,ortherentofland。

  Whenthosethreedifferentsortsofrevenuebelongtodifferentpersons,theyarereadilydistinguished;butwhentheybelongtothesametheyaresometimesconfoundedwithoneanother,atleastincommonlanguage。

  Agentlemanwhofarmsapartofhisownestate,afterpayingtheexpenseofcultivation,shouldgainboththerentofthelandlordandtheprofitofthefarmer。Heisapttodenominate,however,hiswholegain,profit,andthusconfoundsrentwithprofit,atleastincommonlanguage。ThegreaterpartofourNorthAmericanandWestIndianplantersareinthissituation。

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