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 SMITHFear is in almost all cases a wretched instrument of government, and ought in particular never to be employed against any order of men who have the smallest pretensions to independency.
More Adam Smith Quotes
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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 -
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 -
The theory that can absorb the greatest number of facts, and persist in doing so, generation after generation, through all changes of opinion and detail, is the one that must rule all observation.
ADAM SMITH -
Every man lives by exchanging.
ADAM SMITH -
To feel much for others and little for ourselves, that to restrain our selfish, and to indulge our benevolent affections, constitutes the perfection of human nature.
ADAM SMITH -
Man is an animal that makes bargains: no other animal does this – no dog exchanges bones with another.
ADAM SMITH -
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 -
I have never known much good done by those who affected to trade for the public good.
ADAM SMITH -
There is no art which government sooner learns of another than that of draining money from the pockets of the people.
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 -
The game women play is men.
ADAM SMITH -
It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.
ADAM SMITH -
The proprietor of stock is necessarily a citizen of the world, and is not necessarily attached to any particular country.
ADAM SMITH -
Mercy to the guilty is cruelty to the innocent.
ADAM SMITH -
Ask any rich man of common prudence to which of the two sorts of people he has lent the greater part of his stock, to those who, he thinks, will employ it profitably, or to those who will spend it idly, and he will laugh at you for proposing the question.
ADAM SMITH