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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

A nation is not made wealthy by the childish accumulation of shiny metals, but it enriched by the economic prosperity of it’s people.
ADAM SMITH

Children Material Nation People Prosperity Wealth
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
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
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
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
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
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
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
Justice, however, never was in reality administered gratis in any country. Lawyers and attornies, at least, must always be paid by the parties; and, if they were not, they would perform their duty still worse than they actually perform it.
ADAM SMITH

Administration Country Justice Party Pay Performance Reality Responsibility Worst
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
Have lots of experiments, but make sure they’re strategically focused.
ADAM SMITH

Advice Experiment Focus Strategy
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
People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
ADAM SMITH

Conversation End Happiness Leaving People Price Togetherness Trade
Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.
ADAM SMITH

Excitement Jealous Nation Violence
Defense is superior to opulence.
ADAM SMITH

Defense One Liner Protection
Science is the great antidote to the poison of enthusiasm and superstition.
ADAM SMITH

Belief Enthusiasm Medicine Poison Science Superstition

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.

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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.

Related Topics

Popular Authors

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