1 The most important attempt to establish the general philosophical principles which inform all of Smith's works, including The Wealth of Nations, is that of J. Ralph Lindgren, The Social Philosophy of Adam Smith (The Hague: Nijhoff, 1973).

2 Joseph Schumpeter, History of Economic Analysis (New York: Oxford University Press, 1954), 187. Schumpeter's statement is largely accurate with respect to Book 1 of The Wealth of Nations but, as we shall see, does not apply to the theory of accumulation developed in Book 2.

3 Adam Smith, The Wealth of Nations, ed. R. H. Campbell and A. S. Skinner (Oxford: Oxford University Press, 1976), 1: 25-26 (hereafter cited as WN ).

4 Ibid., 1: 37. See also idem, The Theory of the Moral Sentiments (Indianapolis: Liberty Classics, 1969), 166.

3 Adam Smith, The Wealth of Nations, ed. R. H. Campbell and A. S. Skinner (Oxford: Oxford University Press, 1976), 1: 25-26 (hereafter cited as WN ).

4 Ibid., 1: 37. See also idem, The Theory of the Moral Sentiments (Indianapolis: Liberty Classics, 1969), 166.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

14 Samuel Hollander, The Economics of Adam Smith (Toronto: University of Toronto Press, 1973), 146.

15 Smith, WN, 1: 96, 2: 748. For Smith's use of "sober and industrious poor" see ibid., 2: 872, 887.

14 Samuel Hollander, The Economics of Adam Smith (Toronto: University of Toronto Press, 1973), 146.

15 Smith, WN, 1: 96, 2: 748. For Smith's use of "sober and industrious poor" see ibid., 2: 872, 887.

16 This is the phrase used by Marian Bowley, Studies in the History of Economic Theory Before 1870 (London: Macmillan and Co., 1973), 113.

17 Smith, WN, 1: 147, 50, 51.

18 Ibid., 1: 48.

19 Ibid., 1: 69.

20 Ibid., 1: 72.

17 Smith, WN, 1: 147, 50, 51.

18 Ibid., 1: 48.

19 Ibid., 1: 69.

20 Ibid., 1: 72.

17 Smith, WN, 1: 147, 50, 51.

18 Ibid., 1: 48.

19 Ibid., 1: 69.

20 Ibid., 1: 72.

17 Smith, WN, 1: 147, 50, 51.

18 Ibid., 1: 48.

19 Ibid., 1: 69.

20 Ibid., 1: 72.

21 Hollander, 121-24.

22 Smith, WN, 2: 864.

23 Ibid., 2: 869-70; my emphasis.

22 Smith, WN, 2: 864.

23 Ibid., 2: 869-70; my emphasis.

24 J. M. A. Gee, "The Origin of Rent in Adam Smith's Wealth of Nations: An Anti-Neoclassical View," History of Political Economy 13 (1981): 1-18.

25 Smith, WN, Book 1, chap. 3. See also Nathan Rosenburg, "Some Institutional Aspects of the Wealth of Nations, " Journal of Political Economy 68 (1960): 557-70.

26 Smith, WN, 1: 105.

27 Ibid., 1: 113.

26 Smith, WN, 1: 105.

27 Ibid., 1: 113.

28 Adam Smith, Lectures on Jurisprudence, ed. R. L. Meek, D. D. Raphael, and P. G. Stein (Oxford: Oxford University Press, 1978), Report dated 1766, 497. Smith's Lectures consist of two "Reports," one from the session of 1762-1763, the other dated 1766 (hereafter cited as LJ(A) and LJ(B)) .

29 Smith, WN, 1: 78-79.

30 Ibid., 1: 114, 115.

29 Smith, WN, 1: 78-79.

30 Ibid., 1: 114, 115.

31 Hugh Blair to Adam Smith, 3 April 1776, and Adam Ferguson to Adam Smith, 18 April 1776, in Ernest Campbell Mossner and Ian Simpson Ross, eds., The Correspondence of Adam Smith (Oxford: Oxford University Press, 1977), 188, 193.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

47 Bowley, 127-29.

48 Smith, WN, 1: 146.

49 Ibid., 2: 612.

48 Smith, WN, 1: 146.

49 Ibid., 2: 612.

50 Nathan Rosenburg, "Adam Smith on Profits—Paradox Lost and Regained," in Essays on Adam Smith, ed. Andrew Skinner and Thomas Wilson (Oxford: Oxford University Press, 1975), 386.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

67 David Hume, Writings on Economics, ed. Eugene Rotwein (Madison: University of Wisconsin Press, 1970), 217.

68 Schumpeter, 184.

69 Edwin Cannan, Editor's Introduction to The Wealth of Nations, by Adam Smith (New York: Modern Library, 1937), xxxix.

70 Hollander, 316.

71 Smith, LJ(A), 353.

72 John Rae, Life of Adam Smith (1895; reprint, New York: Augustus M. Kelley, 1965), 197-205.

73 Dugald Stewart, "Account of the Life and Writings of Adam Smith, LL.D.," in Essays on Philosophical Subjects, by Adam Smith, ed. W. L. D. Wightman (Oxford: Oxford University Press, 1980), 304.

74 Rae, 216; Rae quotes Dupont on 215.

75 P. D. Groenewegen, "Turgot and Adam Smith," Scottish Journal of Political Economy 16 (1969): 274; Viner, 128-38.

76 Smith, WN, 2: 663, 671-72, 678.

77 Ibid., 2: 673-74.

76 Smith, WN, 2: 663, 671-72, 678.

77 Ibid., 2: 673-74.

78 Edwin Cannan, A History of the Theories of Production and Distribution from 1776 to 1848 (1893; reprint, New York: Augustus M. Kelley, 1967), 12.

79 Ibid., 144.

80 Ibid., 32.

78 Edwin Cannan, A History of the Theories of Production and Distribution from 1776 to 1848 (1893; reprint, New York: Augustus M. Kelley, 1967), 12.

79 Ibid., 144.

80 Ibid., 32.

78 Edwin Cannan, A History of the Theories of Production and Distribution from 1776 to 1848 (1893; reprint, New York: Augustus M. Kelley, 1967), 12.

79 Ibid., 144.

80 Ibid., 32.

81 See Smith, LJ(A), 353-54; LJ(B), 495-96; Early Draft in Lectures on Jurisprudence; Bowley, 362; Hollander, 114.

82 Ronald Meek, "Adam Smith and the Classical Theory of Profit," in Economics and Ideology and Other Essays (London: Chapman and Hall, 1967), 20.

83 Smith, WN, 1: 83; my emphasis.

84 Ibid., 1: 332.

85 Ibid., 1: 337-38.

83 Smith, WN, 1: 83; my emphasis.

84 Ibid., 1: 332.

85 Ibid., 1: 337-38.

83 Smith, WN, 1: 83; my emphasis.

84 Ibid., 1: 332.

85 Ibid., 1: 337-38.

86 Marian Bowley, "Some Aspects of the Treatment of Capital in The Wealth of Nations, " in Essays on Adam Smith, 373.

87 Hollander, 105; see also 238-39.

88 Ibid., 155, 191-92, 189.

89 Ibid., 192.

87 Hollander, 105; see also 238-39.

88 Ibid., 155, 191-92, 189.

89 Ibid., 192.

87 Hollander, 105; see also 238-39.

88 Ibid., 155, 191-92, 189.

89 Ibid., 192.

90 Smith, WN, 1: 68.

91 Ibid., 1: 280, 363.

90 Smith, WN, 1: 68.

91 Ibid., 1: 280, 363.

92 Hollander, 18.

93 Ibid., 19.

92 Hollander, 18.

93 Ibid., 19.

94 Smith, WN, 1: 53.

95 Ibid., 1: 206, 510.

94 Smith, WN, 1: 53.

95 Ibid., 1: 206, 510.

96 John Hicks, Capital and Growth (New York: Oxford University Press, 1965), 16-18. See also Hla Myint, Theories of Welfare Economics (1948; reprint, New York: Augustus M. Kelley, 1965), 5.

97 Karl Marx, Capital, trans. Ben Fowkes (Harmondsworth: Penguin, 1976),1: 736.

98 Cannan, History, 61.

99 Ibid., 53.

100 Ibid.

98 Cannan, History, 61.

99 Ibid., 53.

100 Ibid.

98 Cannan, History, 61.

99 Ibid., 53.

100 Ibid.

101 Smith, WN, 2: 823.

102 Myint, 8.

103 Groenewegen, 281; I. C. Lundberg, Turgot's Unknown Translator (The Hague: Nijhoff, 1964), 70-72.

104 Schumpeter, 324 n 2.

105 See especially Lundberg's interesting discussion of this correspondence of terms. Although Lundberg enormously overstates her general case, she is convincing on this point. In this connection see, for example, Viner, 134.

106 Sheldon S. Wolin, Politics and Vision, 290, as quoted by Andrew Skinner, A System of Social Science: Papers Relating to Adam Smith (Oxford: Oxford University Press, 1979), 209. See also George Stigler, "Smith's Travels on the Ship of State," in Essays on Adam Smith, 237.

107 Smith, WN, 1: 471, 472.

108 Ronald Meek, Smith, Marx, and After (London: Chapman and Hall, 1977), 14-16.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

121 Karl Marx, Theories of Surplus Value, trans. Emile Burns, ed. S. W. Ryazanskaya (Moscow: Progress Publishers, 1963), 1: 43.