by　the　wants　of　him　who　produced　it；　but　by　the　wants　of　all　those　with　whom　he　might　transact　exchanges；　…　with　whom　he　might　carry　on　commerce；　and　hence　we　have　named　it　commercial　wealth。　　　　　The　solitary　man　was　used　to　labour　for　his　own　wants；　and　his　consumption　was　the　measure　of　his　production；　he　fitted　out　a　place　to　produce　him　provisions　for　a　year；　for　two　years　perhaps；　but　afterwards　he　did　not　indefinitely　augment　it。　It　was　enough　to　renew　the　process；　so　as　to　maintain　himself　in　the　same　condition；　and；　if　he　had　time　to　spare；　he　laboured　at　acquiring　some　new　enjoyment；　at　satisfying　some　other　fancy。　Society　has　never　done　any　thing　by　commerce；　except　sharing　among　all　its　members　what　the　isolated　man　would　have　prepared　solely　for　himself。　Each　labours；　in　like　manner；　to　provide　for　all；　during　a　year；　two　years；　or　more；　each　labours；　afterwards；　to　keep　up　this　provision；　according　as　consumption　destroys　a　part　of　it；　and　since　the　division　of　labour　and　the　improvement　of　arts　allow　more　and　more　work　to　be　done；　each；　perceiving　that　he　has　already　provided　for　the　reproduction　of　what　has　been　consumed；　studies　to　awaken　new　tastes　and　new　fancies　which　he　may　satisfy。　　　　　But　when　a　man　laboured　for　himself　alone；　he　never　dreamt　of　those　fancies；　till　he　had　provided　for　his　wants；　his　time　was　his　revenue；　his　time　formed　also　his　whole　means　of　production。　There　was　no　room　to　fear；　that　the　one　would　not　be　exactly　proportioned　to　the　other；　that　he　would　ever　work　to　satisfy　an　inclination　that　he　did　not　feel；　or　which　he　valued　less　than　a　want。　But　when　trade　was　introduced；　and　each　no　longer　laboured　for　himself；　but　for　an　unknown　person；　the　different　proportions　subsisting　between　the　desire　and　what　could　satisfy　it；　between　the　labour　and　the　revenue；　between　production　and　consumption；　were　no　longer　equally　certain；　they　were　independent　of　each　other；　and　every　workman　was　obliged　to　regulate　his　conduct　by　guessing　on　a　subject；　concerning　which　the　most　skilful　had　nothing　but　conjectural　information。　　　　　The　isolated　man's　knowledge　of　his　own　means　and　his　own　wants；　required　to　be　replaced　by　a　knowledge　of　the　market；　for　which　the　social　man　was　labouring；　of　its　demands　and　its　extent。　　　　　The　number　of　consumers；　their　tastes；　the　extent　of　their　consumption；　and　their　income；　regulate　the　market　for　which　every　producer　labours。　Each　of　these　four　elements　is　variable；　independently　of　the　rest；　and　each　of　their　variations　accelerates　or　retards　the　sale。　The　number　of　consumers　may　decrease；　not　only　by　sickness　or　war；　but　also　by　obstacles　which　policy　may　place　in　the　way　of　their　communication；　or　by　the　avarice　of　new　sellers。　Their　tastes　may　be　changed　by　fashion：　an　extraordinary　consumption　of　one　kind　of　merchandize；　brought　about　by　some　public　calamity；　may　have　reduced　them　to　be　frugal　in　all　the　rest；　and　finally；　their　income　may　diminish　without　a　diminution　of　their　number；　and　with　the　same　wants；　the　same　means　of　satisfying　them　may　no　longer　exist。　Such　revolutions　in　the　market　are　difficult　to　know　with　precision；　difficult　to　calculate；　and　their　obscurity　is　greater　for　each　individual　producer；　because　he　but　imperfectly　knows　the　number　and　means　of　his　rivals；　the　merchants；　who　are　to　sell　in　competition　with　him。　But　one　single　observation　serves　him；　instead　of　all　them：　he　compares　his　price　with　that　of　the　buyer；　and　this　comparison；　according　to　the　profit　or　loss　which　it　offers　him；　is　a　warning　to　increase　or　diminish　his　production；　for　the　following　year。　　　　　The　producer　establishes　his　price　according　to　what　the　merchandise　has　cost；　including　his　profit；　which　ought　to　be　proportional　to　what　might　be　obtained　in　any　other　kind　of　industry。　The　price　must　be　sufficient　to　repay　the　workmen's　wages；　the　rent　of　the　land；　or　the　interest　on　the　fixed　capitals　employed　in　production；　the　raw　materials　wrought　by　him；　with　all　the　expenses　of　transport；　and　all　the　advances　of　money。　When　all　these　reimbursements；　calculated　at　the　mean　rate　of　the　country；　are　themselves　repaid　by　the　last　purchaser；　the　production　may　continue　on　the　same　footing。　If　the　profits　rise　above　the　mean　rate；　the　producer　will　extend　his　enterprizes；　he　will　employ　new　hands　and　fresh　capital；　and；　striving　to　benefit　by　this　extraordinary　profit；　he　will　soon　reduce　it　to　the　common　level。　If　the　buyer；　on　the　other　hand；　pays　a　price　too　low　for　compensating　all　the　producer's　reimbursements；　the　latter　will；　of　course；　seek　to　reduce　his　production；　but　this　change　will　not　be　so　easy　as　the　other。　The　workmen　employed　by　him；　rather　than　abandon　what　gains　their　bread；　consent　to　work　at　a　lower　price；　for　less　even　than　the　necessaries　of　life。　Fixed　capitals；　moreover；　cannot　be　put　to　another　use；　he　will　content　himself　with　a　smaller　profit；　and　continue　to　work　with　them　till　they　produce　next　to　nothing。　Lastly；　the　manufacturer　himself　must　live　by　his　industry；　and　never　willingly　abandons　it：　he　is　ever　disposed　to　attribute　the　decline　of　his　last　year's　trade　to　accidental　causes；　and　the　less　he　has　gained；　the　less　is　he　willing　to　retire　from　business。　Thus　production　continues　almost　always　longer　than　demand；　unless　the　manufacturer　has；　of　his　own　accord；　renounced　his　business　to　attempt　a　new　one。　　　　　The　buyer's　price；　an　the　other　hand；　is　fixed　by　competition。　He　does　not　inquire　what　the　article　costs；　but　what　are　the　terms　on　which　he　may　obtain　another　to　serve　in　its　stead；　he　addresses　himself　to　various　merchants；　who　offer　him　the　same　commodity；　and　bargains　with　him　who　will　sell　the　cheapest；　or　else　he　considers　which　will　suit　him　best；　among　several　articles　of　a　different　nature；　but　capable　of　being　substituted　for　each　other。　As　each　is　occupied　solely　with　his　own　private　interest；　each　tends　to　the　same　object：　all　the　buyers；　on　one　hand；　all　the　sellers　on　the　other；　act　as　if　in　concert：　the　sums　asked；　and　the　sums　offered；　are　brought　to　an　equilibrium；　and　the　mean　price　is　established。　　　　　The　seller's　price　should　enable　him　to　reproduce　the　article　sold；　with　a　profit；　under　the　same　condition；　in　the　same　place。　His　market；　therefore；　extends　to　every　country　where　the　mean　price　established　by　commerce　is　no　smaller　than　his。　His　production　is　not　limited　by　the　consumption　of　neighbors　or　countrymen；　it　is　regulated　by　the　whole　number　of　those　who；　whatever　country　they　inhabit；　find　an　advantage　in　purchasing　his　goods；　or　for　whom　his　producing　price　is　not　superior　to　the　buying　price。　It　is　this　which　properly　constitutes　the　extent　of　market。　　　　　As　the　division　of　labour　incessantly　augments　its　productive　powers；　and　the　increase　of　capitals　daily　obliges　the　merchant　to　seek　new　employment　for　industry；　and　try　new　manufactures；　the　producer　feels　no　interest　more　pressing　than　that　of　extending　his　market。　If　he　cannot　find　new　places　of　sale；　it　will　neither　suit　him　to　enlarge　his　manufactory；　when　his　capital　has　been　increased　by　saving；　nor　to　improve　his　fabrication　by　performing　more　work　with　the　same　machinery；　or　the　same　number　of　hands。　The　whole　progress　of　his　fortune　depends　on　the　progress　of　his　sale。*　　　　　Among　the　causes　which　augment　this　sale；　the　first　is　the　discovery　of　such　an　economy　in　labour　as　may　enable　the　manufacturer　to　sell　cheaper　than　his　brethren；　and　to　get　possession　of　their　custom：　he　will　sell　more；　but　they　will　sell　less。　The　consumers　will　make　a　light　saving；　yet；　if　both　are　subjects　of　the　same　state；　the　difference　in　regard　to　the　national　interest　will　not　be　great。　The　distress　of　those　producers；　who　have　lost　their　custom；　and　who；　probably；　will　lose　a　considerable　part　of　their　capital　by　selling　their　wares　too　cheap；　and　abandoning　their　former　machinery；　will　perhaps　counterbalance　the　profit　of　purchasers。　　　　　As　policy　is　wont　to　comprise　the　obligation　of　social　duties　within　the　circle　of　our　countrymen；　the　mutual　rivalship　of　foreign　producers　has　more　openly　displayed　itself。　They　have　striven　to　exclude　each　other　from　the　markets；　where　they　came　in　competition；　by　selling　at　a　cheaper　rate。　Every　national　discovery；　which　allows　the　producers　of　one　country　to　sell　cheaper　than　those　of　other　countries；　inevitably　increases　the　former's　production　at　the　latter's　expense；　and　the　profit　of　this　saving　is　shared　between　producers　who　extend　their　market；　and　consumers　who　provide　for　their　wants　at　a　smaller　expense。　Yet　if　a　single　manufacturer　has　succeeded　in　making　this　saving；　which　extends　his　market；　or　if　the　exclusive　use　of　it　is　secured　to　him　by　patent；　his　countrymen。　also　manufacturers；　against　whom　he　has　made　this　successful　competition；　must　support　all　the　loss　of　it；　whilst　himself　and　the　foreign　consumer　share　all　the　profit。　In　an　age；　when　communication　among　different　counties　is　easy；　when　all　the　sciences　are　applied　to　all　the　arts；　discoveries　are　soon　divined　and　copied；　and　a　nation　cannot　long　retain　an　advantage　in　manufacturing　which　it　owes　but　to　a　secret；　so　that　the　market；　extended　for　a　moment　by　a　fall　in　the　price；　is　very　soon　shut　up；　and　if　the　general　consumption　is　not　incre