In The Wealth of Nations, Adam Smith uses the word "stock" many times, but not with the meaning we ascribe to it today (supply of an asset, inventory). I take it that he refers to capital, as in a businessman who deploys capital into a business.

For instance:

Such parts only of the produce of land can commonly be brought to market, of which the ordinary price is sufficient to replace the stock which must be employed in bringing them thither, together with its ordinary profits.

Is my assessment correct?


1 Answer 1


Сельскохозяйственные продукты могут, в виде правила, поступать на рынок только в таком количестве, чтобы обычная цена их была достаточна для возмещения капитала, необходимого для доставления их туда, и для оплаты обычной прибыли.

This is the same place, but from Russian translation of the book. Here "stock" was translated as "капитал", which is a Russian word for "capital".

So, I think yes. It seems that you're right.

  • $\begingroup$ "капитал" and "capital" are the same word, just different alphabets $\endgroup$
    – Henry
    Jul 21, 2020 at 22:15
  • $\begingroup$ @Henry no "капитал" in Latin alphabet would be "kapital" not "capital" $\endgroup$
    – 1muflon1
    Jul 23, 2020 at 0:55

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