804 B
804 B
Commercial Independence Effect
Definition
The transformation whereby tenants and retainers become independent of great proprietors as commercial wealth changes spending patterns, with tenants no longer dependent on landlord bounty for subsistence and retainers dismissed, allowing regular government to function without interference from powerful landowners.
Source Chapter
Book III, Chapter 4
Context
The culmination of Smith's argument showing how commercial society breaks the power of great proprietors by making their dependents independent, leading to the establishment of regular government in both town and country.
Economic Domain
Distribution