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The Wealth of Nations: Book III

In this groundbreaking work, economist Adam Smith examines labor practices, commerce, and economic growth. Read the full text here.

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  1. reciprocal
    concerning each of two or more persons or things
    We must not, however, upon this account, imagine that the gain of the town is the loss of the country. The gains of both are mutual and reciprocal, and the division of labour is in this, as in all other cases, advantageous to all the different persons employed in the various occupations into which it is subdivided.
  2. retrograde
    moving or directed or tending in a backward direction
    The foreign commerce of some of their cities has introduced all their finer manufactures, or such as were fit for distant sale; and manufactures and foreign commerce together have given birth to the principal improvements of agriculture. The manners and customs which the nature of their original government introduced, and which remained after that government was greatly altered, necessarily forced them into this unnatural and retrograde order.
  3. rapine
    the act of despoiling a country in warfare
    The rapine and violence which the barbarians exercised against the ancient inhabitants, interrupted the commerce between the towns and the country.
  4. transitory
    lasting a very short time
    This original engrossing of uncultivated lands, though a great, might have been but a transitory evil. They might soon have been divided again, and broke into small parcels, either by succession or by alienation.
  5. incursion
    an attack that penetrates into enemy territory
    To divide it was to ruin it, and to expose every part of it to be oppressed and swallowed up by the incursions of its neighbours.
  6. primogeniture
    right of inheritance belonging exclusively to the eldest son
    The law of primogeniture, therefore, came to take place, not immediately indeed, but in process of time, in the succession of landed estates, for the same reason that it has generally taken place in that of monarchies, though not always at their first institution. That the power, and consequently the security of the monarchy, may not be weakened by division, it must descend entire to one of the children.
  7. tract
    an extended area of land
    Great tracts of uncultivated land were in this manner not only engrossed by particular families, but the possibility of their being divided again was as much as possible precluded for ever.
  8. usurp
    seize and take control without authority
    Entails are thought necessary for maintaining this exclusive privilege of the nobility to the great offices and honours of their country; and that order having usurped one unjust advantage over the rest of their fellow-citizens, lest their poverty should render it ridiculous, it is thought reasonable that they should have another.
  9. jurisdiction
    the territory within which power can be exercised
    In the disorderly times which gave birth to those barbarous institutions, the great proprietor was sufficiently employed in defending his own territories, or in extending his jurisdiction and authority over those of his neighbours.
  10. embellish
    make more attractive, as by adding ornament or color
    He embellishes, perhaps, four or five hundred acres in the neighbourhood of his house, at ten times the expense which the land is worth after all his improvements; and finds, that if he was to improve his whole estate in the same manner, and he has little taste for any other, he would be a bankrupt before he had finished the tenth part of it.
  11. mortify
    cause to feel shame
    The pride of man makes him love to domineer, and nothing mortifies him so much as to be obliged to condescend to persuade his inferiors.
  12. exhortation
    a communication intended to urge or persuade to take action
    The church of Rome claims great merit in it; and it is certain, that so early as the twelfth century, Alexander III. published a bull for the general emancipation of slaves. It seems, however, to have been rather a pious exhortation, than a law to which exact obedience was required from the faithful.
  13. enfranchise
    grant freedom to, as from slavery or servitude
    A villain, enfranchised, and at the same time allowed to continue in possession of the land, having no stock of his own, could cultivate it only by means of what the landlord advanced to him, and must therefore have been what the French call a metayer.
  14. redress
    act of correcting an error or a fault or an evil
    If they were turned out illegally by the violence of their master, the action by which they obtained redress was extremely imperfect.
  15. yeoman
    a free man who cultivates his own land
    Even in England, the country, perhaps of Europe, where the yeomanry has always been most respected, it was not till about the 14th of Henry VII. that the action of ejectment was invented, by which the tenant recovers, not damages only, but possession, and in which his claim is not necessarily concluded by the uncertain decision of a single assize.
  16. writ
    a legal document issued by a court or judicial officer
    This action has been found so effectual a remedy, that, in the modern practice, when the landlord has occasion to sue for the possession of the land, he seldom makes use of the actions which properly belong to him as a landlord, the writ of right or the writ of entry, but sues in the name of his tenant, by the writ of ejectment.
  17. fetter
    a shackle for the ankles or feet
    A late act of parliament has, in this respect, somewhat slackened their fetters, though they are still by much too strait.
  18. predecessor
    one who goes before you in time
    It was for his interest, they had imagined, that no lease granted by any of his predecessors should hinder him from enjoying, during a long term of years, the full value of his land.
  19. avarice
    reprehensible acquisitiveness; insatiable desire for wealth
    Avarice and injustice are always short-sighted, and they did not foresee how much this regulation must obstruct improvement, and thereby hurt, in the long-run, the real interest of the landlord.
  20. wont
    an established custom
    The farmers, too, besides paying the rent, were anciently, it was supposed, bound to perform a great number of services to the landlord, which were seldom either specified in the lease, or regulated by any precise rule, but by the use and wont of the manor or barony.
  21. arbitrary
    based on or subject to individual discretion or preference
    These services, therefore, being almost entirely arbitrary, subjected the tenant to many vexations.
  22. purveyor
    someone who supplies provisions, especially food
    When the king’s troops, when his household, or his officers of any kind, passed through any part of the country, the yeomanry were bound to provide them with horses, carriages, and provisions, at a price regulated by the purveyor.
  23. tribunal
    an assembly to conduct judicial business
    In those disorderly times, it might have been extremely inconvenient to have left them to seek this sort of justice from any other tribunal.
  24. vassal
    a person who owes allegiance and service to a feudal lord
    Those whom the law could not protect, and who were not strong enough to defend themselves, were obliged either to have recourse to the protection of some great lord, and in order to obtain it, to become either his slaves or vassals; or to enter into a league of mutual defence for the common protection of one another.
  25. plunder
    steal goods; take as spoils
    The wealth of the burghers never failed to provoke their envy and indignation, and they plundered them upon every occasion without mercy or remorse.
  26. munificent
    given or giving freely, generously, or without restriction
    The princes who lived upon the worst terms with their barons, seem accordingly to have been the most liberal in grants of this kind to their burghs. King John of England, for example, appears to have been a most munificent benefactor to his towns.
  27. antiquarian
    expert in or collector of artifacts or objects from the past
    It is from this period, according to the French antiquarians, that we are to date the institution of the magistrates and councils of cities in France.
  28. formidable
    extremely impressive in strength or excellence
    It was during the unprosperous reigns of the princes of the house of Suabia, that the greater part of the free towns of Germany received the first grants of their privileges, and that the famous Hanseatic league first became formidable.
  29. brocade
    thick expensive material with a raised pattern
    Such manufactures, therefore, are the offspring of foreign commerce; and such seem to have been the ancient manufactures of silks, velvets, and brocades, which flourished in Lucca during the thirteenth century.
  30. caprice
    a sudden desire
    The seat of such manufactures, as they are generally introduced by the scheme and project of a few individuals, is sometimes established in a maritime city, and sometimes in an inland town, according as their interest, judgment, or caprice, happen to determine.
  31. rustic
    characteristic of rural life
    In a country which has neither foreign commerce nor any of the finer manufactures, a great proprietor, having nothing for which he can exchange the greater part of the produce of his lands which is over and above the maintenance of the cultivators, consumes the whole in rustic hospitality at home.
  32. strew
    spread by scattering
    It was reckoned a piece of magnificence in Thomas Becket, that he strewed the floor of his hall with clean hay or rushes in the season, in order that the knights and squires, who could not get seats, might not spoil their fine clothes when they sat down on the floor to eat their dinner.
  33. sordid
    immoderately greedy and selfish
    With the judges that were to determine the preference, this difference was perfectly decisive; and thus, for the gratification of the most childish, the meanest, and the most sordid of all vanities they gradually bartered their whole power and authority.
  34. wanton
    not restrained or controlled
    Having sold their birth-right, not like Esau, for a mess of pottage in time of hunger and necessity, but, in the wantonness of plenty, for trinkets and baubles, fitter to be the playthings of children than the serious pursuits of men, they became as insignificant as any substantial burgher or tradesmen in a city.
  35. depredation
    an act of plundering and pillaging and marauding
    That which arises from the more solid improvements of agriculture is much more durable, and cannot be destroyed but by those more violent convulsions occasioned by the depredations of hostile and barbarous nations continued for a century or two together; such as those that happened for some time before and after the fall of the Roman empire in the western provinces of Europe.
Created on Thu Oct 14 16:56:54 EDT 2021 (updated Wed Oct 27 14:28:37 EDT 2021)

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