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# Tonnage Bounty

## Definition

A subsidy paid to shipping operations based on the burden or carrying
capacity of vessels, rather than on actual productivity or success in the
fishing enterprise.

## Source Chapter

Book IV, Chapter 5

## Context

Smith criticizes tonnage bounties for encouraging inefficient use of capital,
as ship owners may focus on qualifying for subsidies rather than on actual
productive fishing activities.

## Economic Domain

Regulation

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