A. Smith attaches exclusively great value to accumulation of the capital. He says that, preserving considerable part of the income and expanding production, the owner of the enterprise gives work to additional number of workers and promotes growth of richness of all society.
In the views on the fixed and working capital A. Smith apprehended heritage of fiziokrat, but overcame restrictions of their understanding of the productive capital (giving an increase in value) as soon as the capital occupied in agriculture. A. Smith's categories are applicable not to one capital of the farmer, but also to any other form of the productive capital.
Secondly, he saw the general set of individuals, selfish on the essence, and the only link which connects them in system, considered the division of labor which arose because of natural tendency of the person to an exchange.
In general the theory of the fixed and working capital is submitted very interesting though in it and a number of mistakes is allowed. So, it is impossible to tell that the capital invested in cars or in buildings does not address. On the contrary, its cost is in parts transferred by concrete work to the made goods (in the form of depreciation charges), therefore coordination of the capital with physical properties of goods wrong. Here A. Smith mixes distinctions between the fixed and working capital with a difference between the commodity and monetary capital.
In the theory of division of labor A. Smith displayed a tendency to development of mechanical production. He claimed that the output and consumption of products is defined by two main factors: add the population occupied with productive work, and labor productivity level.
A. Smith was the bright and versatily developed personality. It is enough to tell that he got an education at two most prestigious universities of the world. Its interests were not limited only to economy or philosophy, it possessed wide scientific knowledge of other areas: for example, received degree of the master of arts and the doctor of the rights. Besides, A. Smith communicated with the best people of the time that in big degree promoted formation of his views.
A. Smith's view of accumulation of the capital was cast by views of fiziokrat. In its representation accumulation of the capital happens through transformation of a surplus value into the variable capital consumed by workers. And the public capital entirely consists from variable, i.e. in hands of workers is the earned payment. Here A. Smith incorrectly identifies the size of the production capital with the size of its part going on the content of productive work.
A. Smith correctly specified in the theory of a salary that from created by work and the goods cost determined by number of this work the worker in the form of a payment for efforts gets only some part. Other part of the cost added by work represents profit of the businessman. It has to give some sum from this profit in some cases as a land rent or the created percent if the loan capital was used.
At the same time expansion of the capitalist relations was held down by numerous feudal orders. The bourgeoisie saw the main enemy in the nobility and was interested in the scientific analysis of a capitalist way of production to reveal prospects of social development.
Being the objective observer, it displayed process of transformation of the worker into the specialized car, sharp deterioration of conditions of its work. To interrupt this tendency threatening with degeneration of considerable number of the population, A. Smith agreed even to resort to the help of the state though in principle was against its intervention in economy.
Productive A. Smith considered the work creating a surplus value that explained on the example of the worker of a manufactory which work increases the cost of materials over which it works, for the cost of the maintenance of the worker and profit of the owner of production. Work which is paid from the income, A. Smith called unproductive. Its example with the servant who is supported on the income of the host and which work does not create cost is known.