Adam Smith：The Wealth of Nations, Book II, Chapter II, Paragraph 713

The gross revenue of all the inhabitants of a great country comprehends the whole annual produce of their land and labour; the neat revenue, what remains free to them, after deducting the expense of maintaining first, their fixed, and, secondly, their circulating capital, or what, without encroaching upon their capital, they can place in their stock reserved for immediate consumption, or spend upon their subsistence, conveniencies, and amusements. Their real wealth, too, is in proportion, not to their gross, but to their neat revenue.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book II, Chapter II, paragraph 713 · Verified：2026-10-19 · Verification：Exact match

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