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

Adam Smith

The man scarce lives who is not more credulous than he ought to be. The natural disposition is always to believe. It is acquired wisdom and experience only that teach incredulity, and they very seldom teach it enough.
ADAM SMITH

Believe Enough Experience Live Man Teaching Wisdom
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
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
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
He is led by an invisible hand to promote an end which was no part of his intention.
ADAM SMITH

End Hands Himself Intention Leadership
I am a beau in nothing but my books.
ADAM SMITH

Book Myself
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
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
The first thing you have to know is yourself. A man who knows himself can step outside himself and watch his own reactions like an observer.
ADAM SMITH

Character Deep Himself Man Reaction Yourself
Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer.
ADAM SMITH

Consumption End Necessary Production Purpose
On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.
ADAM SMITH

Journey Myself Path Road
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
Men, like animals, naturally multiply in proportion to the means of their subsistence.
ADAM SMITH

Animal Born Man Natural Science
Nothing but the most exemplary morals can give dignity to a man of small fortune.
ADAM SMITH

Dignity Fortune Man Moral Small
A power to dispose of estates for ever is manifestly absurd. The earth and the fulness of it belongs to every generation, and the preceding one can have no right to bind it up from posterity. Such extension of property is quite unnatural.
ADAM SMITH

Earth Generation Mad Nature Power Property Right
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 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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