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Have lots of experiments, but make sure they’re strategically focused.

Adam Smith

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

Difference Food Necessary Worth
Men, like animals, naturally multiply in proportion to the means of their subsistence.
ADAM SMITH

Animal Born Man Natural Science
In ease of body, peace of mind, all the different ranks of life are nearly upon a level and the beggar who suns himself by the side of the highway, possesses that security which kings are fighting for.
ADAM SMITH

Beggar Body Different Fight Himself King Life Mindset Peace Security
Every man lives by exchanging.
ADAM SMITH

Generosity Live Man
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
No complaint is more common than that of a scarcity of money.
ADAM SMITH

Complaint Money
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 violence and injustice of the rulers of mankind is an ancient evil, for which, I am afraid, the nature of human affairs can scarce admit a remedy.
ADAM SMITH

Afraid Cure Evil Human Injustice Kind Man Nature Rule Violence
Men desire to have some share in the management of public affairs chiefly on account of the importance which it gives them.
ADAM SMITH

Desire Important Man Management Return
A merchant, it has been said very properly, is not necessarily the citizen of any particular country.
ADAM SMITH

Citizenship Country Necessary Property Trade
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
People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
ADAM SMITH

Conversation End Happiness Leaving People Price Togetherness Trade
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

Have lots of experiments, but make sure they’re strategically focused.

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Have lots of experiments, but make sure they’re strategically focused.

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Popular Authors

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