Adam Smith：The Wealth of Nations, Book II, Chapter II, Paragraph 712

The gross rent of a private estate comprehends whatever is paid by the farmer; the neat rent, what remains free to the landlord, after deducting the expense of management, of repairs, and all other necessary charges; or what, without hurting his estate, he can afford to place in his stock reserved for immediate consumption, or to spend upon his table, equipage, the ornaments of his house and furniture, his private enjoyments and amusements. His real wealth is in proportion, not to his gross, but to his neat rent.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book II, Chapter II, paragraph 712 · Verified：2026-10-19 · Verification：Exact match

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