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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

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

Fools Generation Money Problem Reward Save Work
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
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
Never complain of that of which it is at all times in your power to rid yourself.
ADAM SMITH

Complaint Power Time Yourself
Wonder and not any expectation of advantage from its discoveries, is the first principle which prompts mankind to the study of Philosophy, of that science which pretends to lay open the concealed connections that unite the various appearances of nature.
ADAM SMITH

Appearance Connection Discover Expectation Kind Man Nature Philosophy Pretend Principle Science Study Wonderful
Great nations are never impoverished by private, though they sometimes are by public prodigality and misconduct.
ADAM SMITH

Destruction Greatness Nation Poor Privacy
Have lots of experiments, but make sure they’re strategically focused.
ADAM SMITH

Advice Experiment Focus Strategy
Wherever there is great property, there is great inequality.
ADAM SMITH

Equality Greatness Injustice Material Property
The world neither ever saw, nor ever will see, a perfectly fair lottery.
ADAM SMITH

Fair Perfection Right See World
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
Beneficence is always free, it cannot be extorted by force.
ADAM SMITH

Destroy Force Freedom
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
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
The division of labour was limited by the extent of the market.
ADAM SMITH

Limitation Market Price
I am a beau in nothing but my books.
ADAM SMITH

Book Myself
Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things.
ADAM SMITH

Administration Carry Easy Justice Low Nature Peace State Tolerance

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.

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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.

Related Topics

Popular Authors

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