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I have no great faith in political arithmetic, and I mean not to warrant the exactness of either of these computations.

Adam Smith

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
A very poor man may be said in some sense to have a demand for a coach and six; he might like to have it; but his demand is not an effectual demand, as the commodity can never be brought to market in order to satisfy it.
ADAM SMITH

Demand Man Market Poor Product Satisfaction
Ask any rich man of common prudence to which of the two sorts of people he has lent the greater part of his stock, to those who, he thinks, will employ it profitably, or to those who will spend it idly, and he will laugh at you for proposing the question.
ADAM SMITH

Employment Greatness Laughter Man People Propose Rich Thinking
Civil government, so far as it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all.
ADAM SMITH

Defense Government Institution Poor Property Reality Rich Security
It must always be remembered, however, that it is the luxuries, and not the necessary expense of the inferior ranks of people, that ought ever to be taxed.
ADAM SMITH

Luxury Necessary People Price Remember Tax
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 price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.
ADAM SMITH

Cost Man Price Reality Trouble
The learned ignore the evidence of their senses to preserve the coherence of the ideas of their imagination.
ADAM SMITH

Evidence Ideas Ignorance Imagination Learning
Mercy to the guilty is cruelty to the innocent.
ADAM SMITH

Cruelty Guilty Innocent Justice Mercy
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
Nothing is more graceful than habitual cheerfulness.
ADAM SMITH

Cheerful Grace Habit Happiness
The problem with fiat money is that it rewards the minority that can handle money, but fools the generation that has worked and saved money.
ADAM SMITH

Fools Generation Money Problem Reward Save Work
Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.
ADAM SMITH

Excitement Jealous Nation Violence
Happiness never lays its finger on its pulse.
ADAM SMITH

Fingers Happiness Wisdom
In the long-run the workman may be as necessary to his master as his master is to him, but the necessity is not so immediate.
ADAM SMITH

Himself Man Necessary Work
Individual Ambition Serves the Common Good.
ADAM SMITH

Ambition Goodness Service

I have no great faith in political arithmetic, and I mean not to warrant the exactness of either of these computations.

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I have no great faith in political arithmetic, and I mean not to warrant the exactness of either of these computations.

Related Topics

Popular Authors

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