this post was submitted on 10 Feb 2024
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[–] Fried_out_Kombi 7 points 8 months ago

That's the funny thing about Adam Smith is he was suuuuuper anti-landlord and suuuuuper anti-crony capitalist, and yet rich folks have co-opted his ideas and warped them into somehow being pro-landlord and pro-crony capitalist. Some quotes:

The rent of the land, therefore, considered as the price paid for the use of the land, is naturally a monopoly price. It is not at all proportioned to what the landlord may have laid out upon the improvement of the land, or to what he can afford to take; but to what the farmer can afford to give.

-- Ch 11, Wealth of Nations

As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce.

-- Adam Smith

[the landlord leaves the worker] with the smallest share with which the tenant can content himself without being a loser, and the landlord seldom means to leave him any more.

-- Ch 11, Wealth of Nations

The landlord demands a rent even for unimproved land, and the supposed interest or profit upon the expense of improvement is generally an addition to this original rent. Those improvements, besides, are not always made by the stock of the landlord, but sometimes by that of the tenant. When the lease comes to be renewed, however, the landlord commonly demands the same augmentation of rent as if they had been all made by his own.

-- Ch 11, Wealth of Nations

RENT, considered as the price paid for the use of land, is naturally the highest which the tenant can afford to pay in the actual circumstances. In adjusting the lease, the landlord endeavours to leave him no greater share of the produce than what is sufficient to keep up the stock.

-- Ch 11, Wealth of Nations

[Landlords] are the only one of the three orders whose revenue costs them neither labour nor care, but comes to them, as it were, of its own accord, and independent of any plan or project of their own. That indolence, which is the natural effect of the ease and security of their situation, renders them too often, not only ignorant, but incapable of that application of mind.

-- Ch 11, Wealth of Nations

[–] TokenBoomer 1 points 8 months ago

Thanks for adding context.