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The division of labour was limited by the extent of the market.

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

Expectation Food Interest Job Ourselves Regard
Consumption is the sole end and purpose of all production.
ADAM SMITH

Consumption End Production Purpose
Have lots of experiments, but make sure they’re strategically focused.
ADAM SMITH

Advice Experiment Focus Strategy
Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things.
ADAM SMITH

Administration Carry Easy Justice Low Nature Peace State Tolerance
On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.
ADAM SMITH

Journey Myself Path Road
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
A very poor man may be said in some sense to have a demand for a coach and six; he might like to have it; but his demand is not an effectual demand, as the commodity can never be brought to market in order to satisfy it.
ADAM SMITH

Demand Man Market Poor Product Satisfaction
What can be added to the happiness of the man who is in health, who is out of debt, and has a clear conscience?
ADAM SMITH

Consience Happiness Health Man Money
Every man lives by exchanging.
ADAM SMITH

Generosity Live Man
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
Man is an animal that makes bargains: no other animal does this – no dog exchanges bones with another.
ADAM SMITH

Animal Attitude Character Dog Man
It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.
ADAM SMITH

Affect Improvement Manufacture Natural Price Reality
Man naturally desires, not only to be loved, but to be lovely; or to be that thing which is the natural and proper object of love.
ADAM SMITH

Desire Love Man Nature Object
I have no faith in political arithmetic.
ADAM SMITH

Belief Faith Myself One Liner Politics
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 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

The division of labour was limited by the extent of the market.

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The division of labour was limited by the extent of the market.

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