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What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.

Adam Smith

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
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

Expectation Food Interest Job Ourselves Regard
No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.
ADAM SMITH

Flourish Greatness Happiness Misery Poor Society
The world neither ever saw, nor ever will see, a perfectly fair lottery.
ADAM SMITH

Fair Perfection Right See World
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
We are but one of the multitude, in no respect better than any other in it.
ADAM SMITH

Philosophy Respect
Virtue is more to be feared than vice, because its excesses are not subject to the regulation of conscience.
ADAM SMITH

Consience Fear Vice Virtue
Nothing is more graceful than habitual cheerfulness.
ADAM SMITH

Cheerful Grace Habit Happiness
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
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
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
Corn is a necessary, silver is only a superfluity.
ADAM SMITH

Difference Food Necessary Worth
He is led by an invisible hand to promote an end which was no part of his intention.
ADAM SMITH

End Hands Himself Intention Leadership
There is no art which government sooner learns of another than that of draining money from the pockets of the people.
ADAM SMITH

Art Democracy Government Learning Money People Politics
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
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

What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.

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What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.

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