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An Inquiry into the Nature and Causes of the Wealth of Nations

Adam Smith · 1776

passage 311 of 725 · PRICES OF WHEAT > part of it can be said to belong to any particular country, till it has

↪ you wandered here via “Roman spread of commerce” — the connecting lines are tinted below

in brief
Smith argues that commerce-based wealth in places like the Hanse towns, Antwerp, Ghent, and Bruges is fragile under war, while agricultural improvements are more durable despite conflicts around the fall of the Roman Empire.

been spread, as it were, over the face of that country, either in buildings, or in the lasting improvement of lands. No vestige now remains of the great wealth said to have been possessed by the greater part of the Hanse Towns, except in the obscure histories of the thirteenth and fourteenth centuries. It is even uncertain where some of them were situated, or to what towns in Europe the Latin names given to some of them belong. But though the misfortunes of Italy, in the end of the fifteenth and beginning of the sixteenth centuries, greatly diminished the commerce and manufactures of the cities of Lombardy and Tuscany, those countries still continue to be among the most populous and best cultivated in Europe. The civil wars of Flanders, and the Spanish government which succeeded them, chased away the great commerce of Antwerp, Ghent, and Bruges. But Flanders still continues to be one of the richest, best cultivated, and most populous provinces of Europe. The ordinary revolutions of war and government easily dry up the sources of that wealth which arises from commerce only. 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.

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topics: agriculture and the land · crafts, industry, and manufacture · strategy and the aims of war

An Inquiry into the Nature and Causes of the Wealth of Nations · Adam Smith · 1776