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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

Corn is a necessary, silver is only a superfluity.
ADAM SMITH

Difference Food Necessary Worth
A merchant, it has been said very properly, is not necessarily the citizen of any particular country.
ADAM SMITH

Citizenship Country Necessary Property Trade
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
As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce.
ADAM SMITH

Country Demand Land Love Man Natural Privacy Produce Property
Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life.
ADAM SMITH

Enjoy Fulfill Human Life Man Necessary Poor Rich Satisfaction
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
Man, an animal that makes bargains.
ADAM SMITH

Animal Man One Liner
What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.
ADAM SMITH

Family Greatness King Privacy
Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.
ADAM SMITH

Excitement Jealous Nation Violence
The rate of profit is naturally low in rich and high in poor countries, and it is always highest in the countries which are going fastest to ruin.
ADAM SMITH

Country Deep Destruction Fast Poor Profit Rich Ruin
Nothing is more graceful than habitual cheerfulness.
ADAM SMITH

Cheerful Grace Habit Happiness
When profit diminishes, merchants are very apt to complain that trade decays; though the diminution of profit is the natural effect of its prosperity, or of a greater stock being employed in it than before.
ADAM SMITH

Employment Greatness Loss Natural Profit Prosperity Trade
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
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 interest of the dealers, however, in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public. To widen the market and to narrow the competition, is always the interest of the dealers.
ADAM SMITH

Deal Different Manufacture Respect Trade
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 problem with fiat money is that it rewards the minority that can handle money, but fools the generation that has worked and saved money.

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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.

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Popular Authors

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