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That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.

Adam Smith

In a militia, the character of the laborer, artificer, or tradesman, predominates over that of the soldier: in a standing army, that of the soldier predominates over every other character.
ADAM SMITH

Army Character Military Soldier Stand Trade
On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.
ADAM SMITH

Journey Myself Path Road
An English university is a sanctuary in which exploded systems and obsolete prejudices find shelter and protection after they have been . Hunted out of every corner of the world.
ADAM SMITH

Explosion Home Hunt Prejudice Protection World
No complaint is more common than that of a scarcity of money.
ADAM SMITH

Complaint Money
An instructed and intelligent people are always more decent and orderly than an ignorant and stupid one.
ADAM SMITH

Ignorance Instruction Intelligence Oneself Order People Stupidity
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
The great secret of education is to direct vanity to proper objects.
ADAM SMITH

Direction Education Greatness Object Secret
A power to dispose of estates for ever is manifestly absurd. The earth and the fulness of it belongs to every generation, and the preceding one can have no right to bind it up from posterity. Such extension of property is quite unnatural.
ADAM SMITH

Earth Generation Mad Nature Power Property Right
Man naturally desires, not only to be loved, but to be lovely; or to be that thing which is the natural and proper object of love.
ADAM SMITH

Desire Love Man Nature Object
Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things.
ADAM SMITH

Administration Carry Easy Justice Low Nature Peace State Tolerance
In general, if any branch of trade, or any division of labour, be advantageous to the public, the freer and more general the competition, it will always be the more so.
ADAM SMITH

Competition Freedom Trade Work
A gardener who cultivates his own garden with his own hands, unites in his own person the three different characters, of landlord, farmer, and labourer. His produce, therefore, should pay him the rent of the first, the profit of the second, and the wages of the third.
ADAM SMITH

Character Different Garden Hands Independent Money Pay Person Production
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
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
Never complain of that of which it is at all times in your power to rid yourself.
ADAM SMITH

Complaint Power Time Yourself
We are but one of the multitude, in no respect better than any other in it.
ADAM SMITH

Philosophy Respect

That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.

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That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.

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Popular Authors

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