The productive powers of the same number of labourers cannot be increased, but in consequence either of some addition and improvement to those machines and instruments which facilitate and abridge labour; or of a more proper division and distribution of employment. Every increase or diminution of capital, therefore, naturally tends to increase or diminish the real quantity of industry, the number of productive hands, and consequently the exchangeable value of the annual produce of the land and labour of the country, the real wealth and revenue of all its inhabitants. Thus, in the happiest and most fortunate period of them all, that which has passed since the Restoration, how many disorders and misfortunes have occurred, which, could they have been foreseen, not only the impoverishment, but the total ruin of the country would have been expected from them? A man grows rich by employing a multitude of manufacturers: he grows poor by maintaining a multitude of menial servants. By what a frugal man annually saves, he not only affords maintenance to an additional number of productive hands, for that or the ensuing year, but, like the founder of a public workhouse, he establishes as it were a perpetual fund for the maintenance of an equal number in all times to come. One must therefore raise the issue whether the constant accumulation of capital that emerges from competition does not inevitably lead to the emergence of monopolies. Capitals are increased by parsimony, and diminished by prodigality and misconduct. The general thrust of any capitalist logic of power is not that territories should be held back from capitalist development, but that they should be continuously opened up. As frugality increases and prodigality diminishes the public capital, so the conduct of those whose expense just equals their revenue, without either accumulating or encroaching, neither increases nor diminishes it. Introduction: Adam Smith: An Outline of Life, Times, and Legacy, Adam Smith and Rousseau: Enlightenment and Counter-Enlightenment, Adam Smith On Language and Rhetoric: The Ethics of Style, Character, and Propriety, Adam Smith: The Sympathetic Process and The Origin and Function Of Conscience, Adam Smith on Money, Banking, and the Price Level, Commercial Relations: From Adam Smith to Field Experiments, Adam Smith and the State: Language and Reform, Adam Smith on Empire and International Relations. The former, too, would, at the end of the period, be the richer man of the two. This is an ongoing process of expropriation, Proletarianization and Urbanization. That portion which he annually saves, as for the sake of the profit it is immediately employed as a capital, is consumed in the same manner, and nearly in the same time too, but by a different set of people, by labourers, manufacturers, and artificers, who reproduce with a profit the value of their annual consumption. Tony Aspromourgos is a founding and continuing member of the Editorial Board of the European Journal of the History of Economic Thought, and is Co-editor of the History of Economics Review. That part of the annual produce of the land and labour of any country which replaces a capital never is immediately employed to maintain any but productive hands. Adam Smith's account of primitive-original accumulation depicted a peaceful process, in which some workers laboured more diligently than others and gradually built up wealth, eventually leaving the less diligent workers to accept living wages for their labour. Great nations are never impoverished by private, though they sometimes are by public prodigality and misconduct. This frugality and good conduct, however, is upon most occasions, it appears from experience, sufficient to compensate, not only the private prodigality and misconduct of individuals, but the public extravagance of government. Parsimony, by increasing the fund which is destined for the maintenance of productive hands, tends to increase the number of those hands whose labour adds to the value of the subject upon which it is bestowed. There would have been two values instead of one. He would have a stock of goods of some kind or other, which, though it might not be worth all that it cost, would always be worth something. He is also author of The Science of Wealth: Adam Smith and the Framing of Political Economy (Routledge 2009). These idyllic proceedings are the chief moments of primitive accumulation. But the money which by this annual diminution of produce is annually thrown out of domestic circulation will not be allowed to lie idle. Destructive industrial use of the environment is similar because the environment "naturally" belongs to everyone, or to no one: factually, it "belongs" to whoever lives there. Its annual exportation will in this manner continue for some time to add something to the annual consumption of the country beyond the value of its own annual produce. It is this effort, protected by law and allowed by liberty to exert itself in the manner that is most advantageous, which has maintained the progress of England towards opulence and improvement in almost all former times, and which, it is to be hoped, will do so in all future times. Unproductive labourers, and those who do not labour at all, are all maintained by revenue; either, first, by that part of the annual produce which is originally destined for constituting a revenue to some particular persons, either as the rent of land or as the profits of stock; or, secondly, by that part which, though originally destined for replacing a capital and for maintaining productive labourers only, yet when it comes into their hands whatever part of it is over and above their necessary subsistence may be employed in maintaining indifferently either productive or unproductive hands.

Versailles is an ornament and an honour to France, Stowe and Wilton to England. The value of the annual produce of the land and labour of the country would have been considerably increased by it every year, and every year's increase would have augmented still more that of the following year. When multiplied, therefore, to an unnecessary number, they may in a particular year consume so great a share of this produce, as not to leave a sufficiency for maintaining the productive labourers, who should reproduce it next year. [3] This would be accomplished through violence, war, enslavement, and colonialism. Harvey's interpretation has been criticized by Brass,[11] who disputes the view that what is described as present-day primitive accumulation, or accumulation by dispossession, entails proletarianization. It led to social relations which perhaps ultimately are to be explained by relations of production but not by the productive relations of capitalism alone. If you except Rouen and Bordeaux, there is little trade or industry in any of the parliament towns of France; and the inferior ranks of people, being elderly maintained by the expense of the members of the courts of justice, and of those who come to plead before them, are in general idle and poor.

The quantity of money, therefore, which can be annually employed in any country must be determined by the value of the consumable goods annually circulated within it. In the same class must be ranked, some both of the gravest and most important, and some of the most frivolous professions: churchmen, lawyers, physicians, men of letters of all kinds; players, buffoons, musicians, opera-singers, opera-dancers, etc. and those which had been established before would have been more extended; and to what height the real wealth and revenue of the country might, by this time, have been raised, it is not perhaps very easy even to imagine. All that I mean is, that the one sort of expense, as it always occasions some accumulation of valuable commodities, as it is more favourable to private frugality, and, consequently, to the increase of the public capital, and as it maintains productive, rather than unproductive hands, conduces more than the other to the growth of public opulence. What was formerly a seat of the family of Seymour is now an inn upon the Bath road. But whatever industry might acquire, if parsimony did not save and store up, the capital would never be the greater. The expense too, which is laid out in durable commodities, is favourable, not only to accumulation, but to frugality. But had not those wars given this particular direction to so large a capital, the greater part of it would naturally have been employed in maintaining productive hands, whose labour would have replaced, with a profit, the whole value of their consumption. Both productive and unproductive labourers, and those who do not labour at all, are all equally maintained by the annual produce of the land and labour of the country.
The implication is that non-capitalist territories should be forced open not only to trade (which could be helpful) but also to permit capital to invest in profitable ventures using cheaper labour power, raw materials, low-cost land, and the like.

If a person should at any time exceed in it, he can easily reform without exposing himself to the censure of the public. It is his spare revenue only, of which productive labourers have seldom a great deal. Such are the people who compose a numerous and splendid court, a great ecclesiastical establishment, great fleets and armies, who in time of peace produce nothing, and in time of war acquire nothing which can compensate the expense of maintaining them, even while the war lasts. Whatever part of his stock a man employs as a capital, he always expects is to be replaced to him with a profit. In some ancient cities, which either have been long stationary, or have gone somewhat to decay, you will sometimes scarce find a single house which could have been built for its present inhabitants.

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