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treatise is, perhaps, made to assume a more exclusively theoretic character than the perusal of the original might lead some to attach to it. Those who wish to study contemporary conditions as they appeared to Adam Smith, or to form a complete estimate of his intellectual interests, must have recourse to the original. But the present selection omits, it is believed, nothing that enters into the real structure of Adam Smith's argument; it may serve to show that the historical and descriptive passages were, after all, only illustrations, and quite subsidiary; and it may bring out more clearly the relation of his work to that of subsequent English economists.

The text here given is that of the first edition. The few passages omitted in the third edition, that of 1784, are placed within round brackets; those there added, within square brackets.

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OF THE CAUSES OF IMPROVEMENT IN THE PRODUCTIVE POWERS OF

LABOUR, AND OF THE ORDER ACCORDING TO WHICH ITS PRODUCE IS NATURALLY DISTRIBUTED AMONG THE DIFFERENT RANKS OF THE PEOPLE,

PAGE

16

20

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CHAPTER
I. Of the Division of Labour

5 II. Of the Principle which gives occasion to the Division of

Labour
III. That the Division of Labour is limited by the Extent of the

Market
IV. Of the Origin and the Use of Money .

24 V. Of the real and nominal Price of Commodities, or of their Price in Labour and their Price in Money

30 VI. Of the component Parts of the Price of Commodities

42 VII. Of the natural and market Price of Commodities

53 VIII. Of the Wages of Labour

66 IX. Of the Profits of Stock.

86 X. Of Wages and Profit in the different Employments of Labour and of Stock.

99 PART I. Inequalities arising from the Nature of the

Employments themselves
PART II. Inequalities occasioned by the Policy of

Europe
XI. Of the Rent of Land

128 Part I. Of the Produce of Land which always affords Rent

131 1 The original table of contents is prefixed to indicate the relation of the selected chapters and passages to the whole treatise. Chapters entirely unrepresented here are bracketed.

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IIO

SELECT CHAPTERS AND PASSAGES

FROM

THE WEALTH OF NATIONS

OF

ADAM SMITH

1776

New York
THE MACMILLAN COMPANY

LONDON: MACMILLAN & Co., LTD.

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