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It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.

Adam Smith

On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.
ADAM SMITH

Journey Myself Path Road
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
Every man lives by exchanging.
ADAM SMITH

Generosity Live Man
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
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
I have never known much good done by those who affected to trade for the public good.
ADAM SMITH

Affect Goodness Myself Trade
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 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

Earth Generation Mad Nature Power Property Right
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
Resentment seems to have been given us by nature for a defense, and for a defense only! It is the safeguard of justice and the security of innocence.
ADAM SMITH

Defense Guard Hate Innocence Justice Nature Safety Security
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 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
Labor was the first price, the original purchase – money that was paid for all things.
ADAM SMITH

Economy Money Price Work
Consumption is the sole end and purpose of all production.
ADAM SMITH

Consumption End Production Purpose
Mercy to the guilty is cruelty to the innocent.
ADAM SMITH

Cruelty Guilty Innocent Justice Mercy
In a militia, the character of the laborer, artificer, or tradesman, predominates over that of the soldier: in a standing army, that of the soldier predominates over every other character.
ADAM SMITH

Army Character Military Soldier Stand Trade

It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.

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It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.

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