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Consumption is the sole end and purpose of all production.

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

Gold Money Pay Price Purchase Wealth Work World
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
In general, if any branch of trade, or any division of labour, be advantageous to the public, the freer and more general the competition, it will always be the more so.
ADAM SMITH

Competition Freedom Trade Work
Men, like animals, naturally multiply in proportion to the means of their subsistence.
ADAM SMITH

Animal Born Man Natural Science
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
A gardener who cultivates his own garden with his own hands, unites in his own person the three different characters, of landlord, farmer, and labourer. His produce, therefore, should pay him the rent of the first, the profit of the second, and the wages of the third.
ADAM SMITH

Character Different Garden Hands Independent Money Pay Person 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
Happiness never lays its finger on its pulse.
ADAM SMITH

Fingers Happiness Wisdom
What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.
ADAM SMITH

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

Enjoyment Greatness People Rich
No complaint is more common than that of a scarcity of money.
ADAM SMITH

Complaint Money
Resentment seems to have been given us by nature for a defense, and for a defense only! It is the safeguard of justice and the security of innocence.
ADAM SMITH

Defense Guard Hate Innocence Justice Nature Safety Security
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

Change Fact Generation Greatness Mathematics Opinion Rule Theory
Have lots of experiments, but make sure they’re strategically focused.
ADAM SMITH

Advice Experiment Focus Strategy
The learned ignore the evidence of their senses to preserve the coherence of the ideas of their imagination.
ADAM SMITH

Evidence Ideas Ignorance Imagination Learning
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

Consumption is the sole end and purpose of all production.

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Consumption is the sole end and purpose of all production.

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