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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

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
I have no great faith in political arithmetic, and I mean not to warrant the exactness of either of these computations.
ADAM SMITH

Faith Greatness Myself Politics
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
Mercy to the guilty is cruelty to the innocent.
ADAM SMITH

Cruelty Guilty Innocent Justice Mercy
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
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 the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.
ADAM SMITH

Affect Improvement Manufacture Natural Price Reality
Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer.
ADAM SMITH

Consumption End Necessary Production Purpose
Every man lives by exchanging.
ADAM SMITH

Generosity Live Man
It is not for its own sake that men desire money, but for the sake of what they can purchase with it.
ADAM SMITH

Desire Man Money Power
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
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
Man is an animal that makes bargains: no other animal does this – no dog exchanges bones with another.
ADAM SMITH

Animal Attitude Character Dog Man
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
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
Corn is a necessary, silver is only a superfluity.
ADAM SMITH

Difference Food Necessary Worth

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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