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On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.

Adam Smith

The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgment with which it is anywhere directed, or applied, seem to have been the effects of the division of labour.
ADAM SMITH

Affect Direction Greatness Improvement Judgement Power Production Skill Work
Corn is a necessary, silver is only a superfluity.
ADAM SMITH

Difference Food Necessary Worth
I have no faith in political arithmetic.
ADAM SMITH

Belief Faith Myself One Liner Politics
Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.
ADAM SMITH

Buy Material Money Price Purpose Service
It is the highest impertinence and presumption, therefore, in kings and ministers to pretend to watch over the economy of private people, and to restrain their expense. They are themselves, always, and without any exception, the greatest spendthrifts in the society.
ADAM SMITH

Economy Greatness King People Pretend Privacy Society
There is no art which government sooner learns of another than that of draining money from the pockets of the people.
ADAM SMITH

Art Democracy Government Learning Money People Politics
To feel much for others and little for ourselves, that to restrain our selfish, and to indulge our benevolent affections, constitutes the perfection of human nature.
ADAM SMITH

Engagement Feeling Human Nature Perfection Selfish
Virtue is more to be feared than vice, because its excesses are not subject to the regulation of conscience.
ADAM SMITH

Consience Fear Vice Virtue
We are but one of the multitude, in no respect better than any other in it.
ADAM SMITH

Philosophy Respect
The division of labour was limited by the extent of the market.
ADAM SMITH

Limitation Market Price
A merchant, it has been said very properly, is not necessarily the citizen of any particular country.
ADAM SMITH

Citizenship Country Necessary Property Trade
The world neither ever saw, nor ever will see, a perfectly fair lottery.
ADAM SMITH

Fair Perfection Right See World
The propensity to truck, barter and exchange one thing for another is common to all men, and to be found in no other race of animals.
ADAM SMITH

Animal Man Race
The real and effectual discipline which is exercised over a workman is that of his customers. It is the fear of losing their employment which restrains his frauds and corrects his negligence.
ADAM SMITH

Customer Discipline Employment Exercise Fear Lose Man Mistake Reality Work
It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.
ADAM SMITH

Active Country Greatness Production
That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.
ADAM SMITH

Chance Learning Nature Success Value

On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.

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On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.

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