1. By: Loreto Anda and Paula González

2. Introduction The whole of the advantages and disadvantages of the different employments of labour and stock must be tending to equality. In a society in which things were left to follow their natural course (perfect liberty, free to choose the proper occupation and change it as often as wanted); every man´s interests would lead him yo choose the more advantageous employment and to reject the disvantageous ones.

3. Inequalities Arising from the Nature of the Employments Themselves 1. The agreeableness or disagreeableness of the employments 2. The easiness and cheapness or the difficulty and expence of learning them 3. The constancy or inconstancy of employment in them 4. The small or great trust which must be reposed in those who exercise them 5. The probability or improbability of success in them.

4. 1. The agreeableness or disgreeableness of the employments The wages of labour vary with: The ease or hardship The cleanliness or dirtiness The honourableness or dishonourableness of the employment.

5. Journeyman tailor (sastre) earns less than Journeyman weaver (tejedor) The work of the journeyman tailor is much easier than the work of the journeyman weaver. Journeyman weaver (tejedor) earns less than Journeyman smith (herrero) The work of the journeyman weaver is not always easier, but it is much cleaner.

6. Journeyman smith (herrero) Collier (minero) A journeyman smith rarely earns so much in twelve hours as a collier does in eight. The work of a journeyman smith is: not so dirty less dangerous carried on in day-light. Honourable professions are rewarded with honour, they are generally under- recompensed. On the other hand, disgrace has the contrary effect as the most detestable employments are better paid than any other employments. They are in proportion to the quantity of work done, better paid than any common trade whatever. Some examples are: Butcher Public executioner

7. Employments which in the rude state of society were the most important employments of mankind, become in its advanced state their most agreeable amusements, and they pursue for pleasure what they once followed from necessity. Fishermen Poacher Disagreeableness and disgrace affect the profits of stock in the same manner as the wages of labour.

8. 2. The easiness and cheapness, or the difficulty and expence of learning the business. WORK PROFITS Extraordinary dexterity and skill learnt PROFITS

9. In order to qualify any person for exercising the one species of labour, there is a necesity of apprenticeship. The employment of skilled labour is more steady and uniform, and the superiority of their earnings may be somewhat greater. Education in the ingenious arts and in the liberal professions, is still more tedious and expensive. The profits of stock seem to be very little affected by the easiness or difficulty of learning the trade in which it is employed. All the different ways in which stock is commonly employed in great towns seem to be almost equally easy and equally difficult to learn.

10. 3. Constancy or inconstancy of employment. A mason´s employment depends on: The weather; the occasional calls of his customers. Therefore, what he earns while he is employed must maintain him while he´s without work. This is why the wages of mason´s are generally from one half more to double common labourer´s wages. The high wages of those workmen are not so much the recompence of their skill, as the compensation for the inconstancy of their emploment. When the inconstancy of employment is combined with the hardship, disagreeableness, and dirtiness of the work, it sometimes raises the wages of the most common labour above those of the most skilful artificers. The constancy or inconstancy of employment cannot affect the ordinary profits of stock in any particular trade. Whether the stock is or not constantly employed depends, not upon trade, but the trader.

11. 4. The small or great trust which must be reposed in the workmen. The wages of goldsmiths (orfebres) and jewellers are superior to those of many other workmen on account of the precious materials with which they are intrusted. We trust our health to the physician and our fortune, our life and reputation to the lawyer. Such confidence is created through time and expence dedicated to their education and experience. This is why their wages are higher, they are a reward for the trust put on them and their hard work. The different rates of profit in the different branches of trade, connot arise from the different degrees of trust reposed in the traders.

12. 5. The probability or improbability of success in them. In a profession where twenty fail for one that succeeds, that one ought to gain all that should have been gained by the unsuccessful twenty. Example: The counsellor at law who, perhaps, at near forty years of age, begins to make something by his profession, ought to receive the retribution, not only of his own so tedious and expensive education, but of that of more than twenty others who are never likely to make anyhting by it. The two reasons which contribute to recommend these employments are: The desire of the reputation which attends upon superior excellence in any of them; The natural confidence which every man has more or less, not only in his own abilities, but in his own good fortune. The exorbitant rewards of players, opera-singers, opera-dancers are founded upon two principles; the rarity and beauty of the talents, and the discredit of employing them in this manner.

13. Their wages are lower and their fatigues are greater. Their hope of good luck honour. Soldiers

14. SAILORS A higher succes in the sea promises less brilliant fortune and reputation than equal succes in the land. Their wages are greater in the port of London. They are also supplied with provisions but they cannot share their wages with their family.

15. HAZARDS don’t rise wages of labour in any employment. UNWHOLESOMENESS wages of labour are always remarkably high.

16. The ordinary rate of profit Varies with the certainty or uncertainty of the returns.Less uncertain in the inland than in the foreign trade,and in some branches more than in others. The ordinary rate of profit rises more or less with the risk but not proportionally. Hazardous trades are more profitable. The average rate of profit should be upon a level than the monetary wages of different sorts of labour.

17. Differences BIG TOWNS SMALL TOWNS/ COUNTRY VILLLAGE More apparent profit to the wholesaler. Goods sold by the retailer are cheaper. The prime cost of bread is greater and the profit is less. Trade can be extended as stock increases. Speculative merchant. More apparent profit to the retailer. The profits of stock of the wholesaler and the retailer are greater. Because of the narrowness of the market, trade cannot always be extended as stock extends.

18. Requirements for an equality in the whole of the advantages and disadvantages of different employments of labour and stock.

19. Employments have to be well known and have been long established Wages are higher in new trades. Wages are higher in old established manufactures. Profit at first is higher in a new manufature but with competition it tends to be reduced. Demand arises from the use or necesity. Demand arises from fashion or fancy

20. The employments must be in their natural state. If demand of labour increases, wages rise. When the price of a commodity rises, the profit rise above their proper level. The quantity of industry annually employed is regulated by the annual demand. The average annual produce may be equal to the average annual consumption.

21. They must be the sole or principal employments of those who occupy them. In poor countries: when a person subsists with one employment which doesn’t occupy the greater part of his time,he will be willing to work for lower wages. In opulent countries: any one trade is sufficient to employ the whole labour and stock of those who occupy it.