Adam Smith：The Wealth of Nations, Book I, Chapter VI, Paragraph 138

A gentleman who farms a part of his own estate, after paying the expense of cultivation, should gain both the rent of the landlord and the profit of the farmer. He is apt to denominate, however, his whole gain, profit, and thus confounds rent with profit, at least in common language. The greater part of our North American and West Indian planters are in this situation. They farm, the greater part of them, their own estates: and accordingly we seldom hear of the rent of a plantation, but frequently of its profit.

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Locator：Book I, Chapter VI, paragraph 138 · Verified：2026-10-19 · Verification：Exact match

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