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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

It is unjust that the whole of society should contribute towards an expence of which the benefit is confined to a part of the society.
ADAM SMITH

Injustice Price Profit Society
The great secret of education is to direct vanity to proper objects.
ADAM SMITH

Direction Education Greatness Object Secret
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 greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgment with which it is anywhere directed, or applied, seem to have been the effects of the division of labour.
ADAM SMITH

Affect Direction Greatness Improvement Judgement Power Production Skill Work
The division of labour was limited by the extent of the market.
ADAM SMITH

Limitation Market Price
Man, an animal that makes bargains.
ADAM SMITH

Animal Man One Liner
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
Whatever work he does, beyond what is sufficient to purchase his own maintenance, can be squeezed out of him by violence only, and not by any interest of his own.
ADAM SMITH

Beyond Himself Maintain Violence Work
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

Active Country Greatness Production
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
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 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
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

Age Believe End Experience Freedom Man Nation Performance Slave
As soon as government management begins it upsets the natural equilibrium of industrial relations, and each interference only requires further bureaucratic control until the end is the tyranny of the totalitarian state.
ADAM SMITH

Beginning Control Destruction End Government Management Nature Relationship
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

Beggar Body Different Fight Himself King Life Mindset Peace Security
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

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.

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Popular Authors

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