Investing · Western classics
Adam Smith:The Wealth of Nations, Book I, Chapter XI, Paragraph 391
Adam Smith《The Wealth of Nations》· Book I, Chapter XI · Investing
The most desert moors in Norway and Scotland produce some sort of pasture for cattle, of which the milk and the increase are always more than sufficient, not only to maintain all the labour necessary for tending them, and to pay the ordinary profit to the farmer or the owner of the herd or flock, but to afford some small rent to the landlord. The rent increases in proportion to the goodness of the pasture. The same extent of ground not only maintains a greater number of cattle, but as they are brought within a smaller compass, less labour becomes requisite to tend them, and to collect their produce. The landlord gains both ways; by the increase of the produce, and by the diminution of the labour which must be maintained out of it.
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https://www.gutenberg.org/ebooks/3300
Locator:Book I, Chapter XI, paragraph 391 · Verified:2026-10-19 · Verification:Exact match
This is a direct reading: the original and source are kept; commentary will be added later.
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