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But what all the violence of the feudal institutions could never have effected, the silent and insensible operation of foreign commerce and manufactures gradually brought about. These gradually furnished the great proprietors with something for which they could exchange the whole surplus produce of their lands, and which they could consume themselves without sharing it either with tenants or retainers. All for ourselves and nothing for other people seems, in every age of the world, to have been the vile maxim of the masters of mankind. As soon, therefore, as they could find a method of consuming the whole value of their rents themselves, they had no disposition to share them with any other persons. For a pair of diamond buckles perhaps, or for something as frivolous and useless, they exchanged the maintenance, or what is the same thing, the price of the maintenance of a thousand men for a year, and with it the whole weight and authority which it could give them.

Adam Smith#11

WealthHistoryPowerTradeClassCommerce

About this quote

What does it mean?
Foreign commerce allowed landowners to consume their wealth directly, reducing reliance on tenants. This shift reflects a selfish maxim where masters prioritize their own gain over others.
In plain terms
Trade let rich landowners stop sharing wealth with workers, focusing only on themselves.
What can you take from it?
Economic shifts can enable elites to hoard wealth rather than share it.

Where it applies

  • economic transitions
  • wealth distribution
  • labor relations

Putting it to work

  • analyzing rent
  • studying trade impacts

Questions to consider

  • Does wealth concentration benefit society?
  • How does trade change power?

Another view

It oversimplifies the complex reasons landowners reduced support.

More from Adam Smith

  1. All for ourselves, and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind.

    Permalink to quote #10
  2. As every individual, therefore, endeavours as much as he can both to employ his capital in the support of domestic industry, and so to direct that industry tha…

    Permalink to quote #12
  3. It is the highest impertinence and presumption, therefore, in kings and ministers to pretend to watch over the economy of private people, and to restrain their…

    Permalink to quote #9

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