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An Inquiry into the Nature and Causes of the Wealth of Nations

Chapter 3 THAT THE DIVISION OF LABOUR IS LIMITED BY THE EXTENT OF THE MARKET.

Word Count: 1837    |    Released on: 01/12/2017

ds, by the extent of the market. When the market is very small, no person can have any encouragement to dedicate himself entirely to one employment, for want of the power to excha

d be such a trade as even that of a nailer in the remote and inland parts of the highlands of Scotland. Such a workman at the rate of a thousand nails a-day, and three hundred working days in the year, will make three hundred thousand nails in the year. But in such a situation it would be impossible to dispose of one thousand, that is, of one day's work in the year. As by means of water-carriage, a more extensive market is opened to every sort of industry than what land-carriage alone can afford it, so it is upon the sea-coast, and along the banks of navigable rivers, that industry of every kind naturally begins to subdivide and improve itself, and it is frequently not till a long time after that those improvements extend themselves to the inland parts of the country. A broad-wheeled waggon, attended by two men, and drawn by eight horses, in about six weeks time, carries and brings back between London and Edinburgh near four ton weight of goods. In about the same time a ship navigated by six or eight men, and sailing between the ports of London and Leith, frequently carries and brings back two hundred ton weight of goods. Six or eight men, therefore, by the help of water-carriage, can carry and bring back, in the same time, the same quantity of goods between London and Edinburgh as fifty broad-wheeled waggons, attended by a hundred men, and drawn by four hundred horses. Upon two hundred tons of goods, therefore, carried by the cheapest land-carriage from London to Edinburg

untry. The inland parts of the country can for a long time have no other market for the greater part of their goods, but the country which lies round about them, and separates them from the sea-coast, and the great navigable rivers. The extent of the market, therefore, must for a long time be in proportion to the riches and populou

the multitude of its islands, and the proximity of its neighbouring shores, extremely favourable to the infant navigation of the world; when, from their ignorance of the compass, men were afraid to quit the view of the coast, and from the imperfection of the art of ship-building, to abandon themselves to the boisterous waves of the ocean. To pass beyond the pillars

Nile; and in Lower Egypt, that great river breaks itself into many different canals, which, with the assistance of a little art, seem to have afforded a communication by water-carriage, not only between all the great towns, but between all the considerable v

are well assured. In Bengal, the Ganges, and several other great rivers, form a great number of navigable canals, in the same manner as the Nile does in Egypt. In the eastern provinces of China, too, several great rivers form, by their different branches, a multitude of canals, and, by communicating with one another, afford

hrough the greater part of it. There are in Africa none of those great inlets, such as the Baltic and Adriatic seas in Europe, the Mediterranean and Euxine seas in both Europe and Asia, and the gulfs of Arabia, Persia, India, Bengal, and Siam, in Asia, to carry maritime commerce into the interior parts of that great continent; and the great rivers of Africa are at too great a distance from one another to give occasion to any considerable inland navigation. The commerce, besides, which any nation can carry on by means of a river which

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1 Chapter 1 OF THE DIVISION OF LABOUR.2 Chapter 2 OF THE PRINCIPLE WHICH GIVES OCCASION TO THE DIVISION OF LABOUR.3 Chapter 3 THAT THE DIVISION OF LABOUR IS LIMITED BY THE EXTENT OF THE MARKET.4 Chapter 4 OF THE ORIGIN AND USE OF MONEY.5 Chapter 5 OF THE REAL AND NOMINAL PRICE OF COMMODITIES, OR OF THEIR PRICE IN LABOUR, AND THEIR PRICE IN MONEY.6 Chapter 6 OF THE COMPONENT PART OF THE PRICE OF COMMODITIES.7 Chapter 7 OF THE NATURAL AND MARKET PRICE OF COMMODITIES.8 Chapter 8 OF THE WAGES OF LABOUR.9 Chapter 9 OF THE PROFITS OF STOCK.10 Chapter 10 OF WAGES AND PROFIT IN THE DIFFERENT EMPLOYMENTS OF LABOUR AND STOCK.11 Chapter 11 OF THE DIVISION OF STOCK.12 Chapter 12 OF MONEY, CONSIDERED AS A PARTICULAR BRANCH OF THE GENERAL STOCK OF THE SOCIETY, OR OF THE EXPENSE OF MAINTAINING THE NATIONAL CAPITAL.13 Chapter 13 OF THE ACCUMULATION OF CAPITAL, OR OF PRODUCTIVE AND UNPRODUCTIVE LABOUR.14 Chapter 14 OF STOCK LENT AT INTEREST.15 Chapter 15 OF THE NATURAL PROGRESS OF OPULENCE.16 Chapter 16 OF THE DISCOURAGEMENT OF AGRICULTURE IN THE ANCIENT STATE OF EUROPE, AFTER THE FALL OF THE ROMAN EMPIRE.17 Chapter 17 OF THE RISE AND PROGRESS OF CITIES AND TOWNS, AFTER THE FALL OF THE ROMAN EMPIRE.18 Chapter 18 OF THE PRINCIPLE OF THE COMMERCIAL OR MERCANTILE SYSTEM.19 Chapter 19 OF RESTRAINTS UPON IMPORTATION FROM FOREIGN COUNTRIES OF SUCH GOODS AS CAN BE PRODUCED AT HOME.20 Chapter 20 OF THE EXTRAORDINARY RESTRAINTS UPON THE IMPORTATION OF GOODS OF ALMOST ALL KINDS, FROM THOSE COUNTRIES WITH WHICH THE BALANCE IS SUPPOSED TO BE DISADVANTAGEOUS.21 Chapter 21 OF DRAWBACKS.22 Chapter 22 OF BOUNTIES.23 Chapter 23 OF TREATIES OF COMMERCE.24 Chapter 24 OF COLONIES.25 Chapter 25 CONCLUSION OF THE MERCANTILE SYSTEM.26 Chapter 26 OF THE EXPENSES OF THE SOVEREIGN OR COMMONWEALTH.27 Chapter 27 OF THE SOURCES OF THE GENERAL OR PUBLIC REVENUE OF THE SOCIETY.28 Chapter 28 OF PUBLIC DEBTS.