797 B
797 B
Metayer
Definition
A type of tenant farmer who cultivates land with the proprietor's capital (seed, cattle, and implements) while providing labor, with the produce divided equally between landlord and farmer after deducting what's needed to maintain the stock.
Source Chapter
Book III, Chapter 2
Context
Smith describes this French agricultural arrangement as superior to slavery because metayers can acquire property and have incentive to maximize production, but inferior to freehold farming because the landlord's claim to half the produce discourages the tenant from investing personal capital in land improvement.
Economic Domain
Production