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That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.

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
With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches.
ADAM SMITH

Enjoyment Greatness People Rich
Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.
ADAM SMITH

Excitement Jealous Nation Violence
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 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
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
All for ourselves, and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind.
ADAM SMITH

Age Kind Man Master Ourselves People World
The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.
ADAM SMITH

Cost Man Price Reality Trouble
Consumption is the sole end and purpose of all production.
ADAM SMITH

Consumption End Production Purpose
A merchant, it has been said very properly, is not necessarily the citizen of any particular country.
ADAM SMITH

Citizenship Country Necessary Property Trade
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
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
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 interest of the dealers, however, in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public. To widen the market and to narrow the competition, is always the interest of the dealers.
ADAM SMITH

Deal Different Manufacture Respect Trade
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
Every man lives by exchanging.
ADAM SMITH

Generosity Live Man

That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.

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That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.

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Popular Authors

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