686 B
686 B
Crown Lands Revenue
Definition
The income derived by a sovereign from the rent and produce of lands owned directly by the state, which historically constituted a major portion of royal revenue in many European monarchies.
Source Chapter
Book V, Chapter 2
Context
Smith examines how rent from crown lands has been a principal source of public revenue for many nations, particularly in ancient times, and discusses how the management of such lands affects their productivity and the revenue they generate.
Economic Domain
General Theory