...as 'an immense accumulation of commodities,' its unit being a single commodity." 14. Cf Smith 248: "The whole annual produce of the land and labour of every country . . . naturally divides itself . . . and constitutes a revenue to three different orders of people;...

...capitalist, operating in commerce or industry, whose reward was profit. Thus, Smith (1937, I, p. 248) wrote: The whole annual produce of the land and labour of every country . . . naturally divides itself. . . into three parts: the rent ofland, the wages of labour, and the...

...Concept of Profit RL Meek Source: Scottish Journal of Political Economy, Vol. 1. June 1954. pp. 138-53. The whole annual produce of the land and labour of every country,' said Adam Smith in the Wealth of Nations, 'or what comes to the same thing, the whole price of that...

...society into its "constituent orders" on the basis of their part in the production and distribution of "the whole annual produce of the land and labour of every country." The annual product "naturally divides itself . . . into three parts: the rent of land, the wages of...

...if we expect the spontaneous productions of the earth, being the effect of productive labour. Though the whole annual produce of the land and labour of every country, is, no doubt, ultimately destined for supplying the consumption of its inhabitants, and for procuring...

...generally end in nothing, but the punishment or ruin of the ringleaders. . . . Conclusion of Chapter XI The whole annual produce of the land and labour of every country, or what comes to the same thing, the whole price of that annual produce, naturally divides itself,...

...reduces that of the proprietors of land." The same authority, in another place, goes on to say, "That the whole annual produce of the land and labour of every country divides itself into three parts, and constitutes a revenue to three different orders of people: to...

...if we except the spontaneous productions of the earth, being the effect of productive labour. Though the whole annual produce of the land and labour of every country, is, no doubt, ultimately destined for supplying the consumption of its inhabitants, and for procuring...

...equilibrium comprehends payments made for rent, wages and profit, according to their natural rates, then 'it must be so with regard to all the commodities...land and labour of every country, taken complexly'. (WN , II.ii.2.) On this basis, Smith concluded that 'The whole price or exchangeable value of that...

...capitalist countryside rather than the factory town. In Adam Smith's words (with 'stock' meaning capital) The whole annual produce of the land and labour of every country ... naturally divides itself ... into three parts: the rent of land, the wages of labour, and the profits...