Political Economy An Inquiry Into the Natural Grounds of Right to Vendible Prop
Political Economy An Inquiry Into the Natural Grounds of Right to Vendible Prop
Samuel Read
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THAT ALL WEALTH IS NOT PRODUCED BY LABOUR ALONE, BUT BY LABOUR AND CAPITAL TOGETHER. How absurd then must it appear to contend that labour produces all and is the only source of wealth, as if capital produced nothing, and was not a real and distinct source of wealth also ! But those who maintain this most extraordi- nary doctrine could only do so from mistaking the most im- * Wealth of Nations, book ii. Chap. 4. 84 CAPITAL CONTRIBUTES BOOK I. portant objects of the science which they cultivate,... and from overlooking the proper end which is meant to be served by distinctly ascertaining and discriminating the original sour- ces of wealth ; which end is, that we may establish there- upon the distinct original grounds of right to property; for if capital did nothing, and labour every thing, in the work of production, what right could the capitalist show to any part of the produce ? If it should be said, that capital could not do what is done by means of it without the assistance and co-operation of labour, neither, I reply, could labour do what is done by means of it without the assistance and co-operation of ca- pital ; and if an attempt were made to estimate what could be done by labour without capital, and compare it with what actually is done in any highly- improved and civilized coun- try by its assistance, it would quickly appear which of these two sources was the most copious, and to which of them the society were indebted for the greater part of their wealth.
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