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The division of labour was limited by the extent of the market.

Adam Smith

What can be added to the happiness of the man who is in health, who is out of debt, and has a clear conscience?
ADAM SMITH

Consience Happiness Health Man Money
The disposition to admire, and almost to worship, the rich and the powerful, and to despise, or, at least, to neglect persons of poor and mean condition is the great and most universal cause of the corruption of our moral sentiments.
ADAM SMITH

Corruption Emotion Greatness Moral Ourselves Person Poor Powerful Rich Worship
Beneficence is always free, it cannot be extorted by force.
ADAM SMITH

Destroy Force Freedom
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
Labour was the first price, the original purchase – money that was paid for all things. It was not by gold or by silver, but by labour, that all wealth of the world was originally purchased.
ADAM SMITH

Gold Money Pay Price Purchase Wealth Work World
All money is a matter of belief.
ADAM SMITH

Belief Money One Liner
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
Consumption is the sole end and purpose of all production.
ADAM SMITH

Consumption End Production Purpose
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
Mercy to the guilty is cruelty to the innocent.
ADAM SMITH

Cruelty Guilty Innocent Justice Mercy
How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it, except the pleasure of seeing it.
ADAM SMITH

Evidence Exception Fortune Happiness Himself Man Nature Necessary Principle See Selfish
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
Every tax ought to be so contrived as both to take out and to keep out of the pockets of the people as little as possible, over and above what it brings into the public treasury of the State.
ADAM SMITH

People Possible Tax Treasure
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
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
Individual Ambition Serves the Common Good.
ADAM SMITH

Ambition Goodness Service

The division of labour was limited by the extent of the market.

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The division of labour was limited by the extent of the market.

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