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 SMITHThe 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.
More Adam Smith Quotes
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Happiness never lays its finger on its pulse.
ADAM SMITH -
Never complain of that of which it is at all times in your power to rid yourself.
ADAM SMITH -
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 -
The property which every man has in his own labour, as it is the original foundation of all other property, so it is the most sacred and inviolable.
ADAM SMITH -
That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.
ADAM SMITH -
It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.
ADAM SMITH -
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 -
I have no faith in political arithmetic.
ADAM SMITH -
Man, an animal that makes bargains.
ADAM SMITH -
Virtue is more to be feared than vice, because its excesses are not subject to the regulation of conscience.
ADAM SMITH -
Have lots of experiments, but make sure they’re strategically focused.
ADAM SMITH -
The division of labour was limited by the extent of the market.
ADAM SMITH -
Labor was the first price, the original purchase – money that was paid for all things.
ADAM SMITH -
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 -
I have no great faith in political arithmetic, and I mean not to warrant the exactness of either of these computations.
ADAM SMITH -
All for ourselves, and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind.
ADAM SMITH -
Beneficence is always free, it cannot be extorted by force.
ADAM SMITH -
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 -
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 -
A merchant, it has been said very properly, is not necessarily the citizen of any particular country.
ADAM SMITH -
Individual Ambition Serves the Common Good.
ADAM SMITH -
The world neither ever saw, nor ever will see, a perfectly fair lottery.
ADAM SMITH -
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 -
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 -
It appears, accordingly, from the experience of all ages and nations, I believe, that the work done by freemen comes cheaper in the end than that performed by slaves.
ADAM SMITH -
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