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Author: Adam Smith

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The consideration of these circumstances may, perhaps, in some
measure explain to us why, in those ancient times, the real price
of the coarse manufacture was, in proportion to that of the fine,
so much lower than in the present times.
Conclusion of the Chapter.
I shall conclude this very long chapter with observing, that
every improvement in the circumstances of the society tends,
either directly or indirectly, to raise the real rent of land to
increase the real wealth of the landlord, his power of purchasing
the labour, or the produce of the labour of other people.
The extension of improvement and cultivation tends to raise it
directly. The landlord's share of the produce necessarily
increases with the increase of the produce.

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