877 B
877 B
Land Monopolization Effects
Definition
The economic consequences of concentrating land ownership in colonial territories, including reduced agricultural improvement, limited labor mobility, and the creation of landlord-tenant relationships that mirror European patterns. This process undermines the natural colonial development trajectory.
Source Chapter
Book IV, Chapter 7
Context
Smith examines how land monopolization in colonies creates the same economic problems found in older countries, including rent extraction and labor subordination. He argues that this process contradicts the natural colonial development pattern where land abundance should promote widespread ownership and prosperity.
Economic Domain
Production