Adam Smith：The Wealth of Nations, Book V, Chapter III, Paragraph 2163

Land and capital stock are the two original sources of all revenue, both private and public. Capital stock pays the wages of productive labour, whether employed in agriculture, manufactures, or commerce. The management of those two original sources of revenue belongs to two different sets of people; the proprietors of land, and the owners or employers of capital stock.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book V, Chapter III, paragraph 2163 · Verified：2026-10-19 · Verification：Exact match

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