...troubling himself about definitions, the author launches in medias res in his first sentence : — " The annual labour of every nation is the fund which...originally supplies it with all the necessaries and conveniencies of life which it annually consumes, and which consist always either in the immediate...

...In the opening words of the Wealth of Nations he traces wealth to its original source in labour. ' The annual labour of every nation is the fund which...either in the immediate produce of that labour, or what is purchased with that produce from other nations.' His masterpiece abounds with evidence of his...

...AN INQUIRY INTO THE NATURE AND CAUSES OF THE WEALTH OF NATIONS. INTRODUCTION AND PLAN OF THE WORK. THE annual labour of every nation is the fund which...originally supplies it with all the necessaries and conveniencies of life which it annually consumes, and which consist always either in the immediate...

...reform. Even Adam Smith' began his great treatise on The Wealth of Nations with the statement that " the annual labour of every nation is the fund which...consist always either in the immediate produce of labour, or in what is purchased with that produce from other nations." In this sentence we recognise...

...innovation upon our Constitution, and they are most Conservative who sternly resolve to destroy it. II. " The annual labour of every nation is the fund which...consumes, and which consist always either in the immediate product of that labour, or in what it purchases with that produce from other nations. According, therefore,...

...remembered — that capital, although saved, is always being consumed, and that, as Adam Smith says, " the annual labour of every nation is the fund which...conveniences of life which it annually consumes." If this learning is somewhat too musty, at any rate the American statistician, Mr Atkinson, may be...

...with respect to labor. He opens the ' Wealth of Nations ' with the statement that " The annual labor of every nation is the fund which originally supplies...conveniences of life which it annually consumes." One school of writers, the Mercantilists, had held that the main thing in the advancement of the wealth...

...agriculture are the fund which affords the annual net 'product, he asserts that " the annual labor of every nation is the fund which originally supplies...conveniences of life which it annually consumes." We are now inclined to identify this productive fund with the whole labor of the nation. But Adam Smith...

...position with respect to labor. He opens the 'Wealth of Nations' with the statement that "The annual labor of every nation is the fund which originally supplies...conveniences of life which it annually consumes." One school of writers, the Mercantilists, had held that the main thing in the advancement of the wealth...

...His work is an inquiry into " the Nature and Causes of the Wealth of Nations." t " The annual labor of every nation is the fund which originally supplies...consist always either in the immediate produce of that labor or in what is purchased with that produce from other nations." Wealth of Nations, " Introduction...