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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 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
We are but one of the multitude, in no respect better than any other in it.
ADAM SMITH

Philosophy Respect
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
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
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

Employment Greatness Laughter Man People Propose Rich Thinking
Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life.
ADAM SMITH

Enjoy Fulfill Human Life Man Necessary Poor Rich Satisfaction
On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.
ADAM SMITH

Journey Myself Path Road
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
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
An English university is a sanctuary in which exploded systems and obsolete prejudices find shelter and protection after they have been . Hunted out of every corner of the world.
ADAM SMITH

Explosion Home Hunt Prejudice Protection World
The division of labour was limited by the extent of the market.
ADAM SMITH

Limitation Market Price
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
By pursuing his own interest (the individual) frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good.
ADAM SMITH

Goodness Myself Pursue Society Trade
As soon as government management begins it upsets the natural equilibrium of industrial relations, and each interference only requires further bureaucratic control until the end is the tyranny of the totalitarian state.
ADAM SMITH

Beginning Control Destruction End Government Management Nature Relationship
As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce.
ADAM SMITH

Country Demand Land Love Man Natural Privacy Produce Property
The world neither ever saw, nor ever will see, a perfectly fair lottery.
ADAM SMITH

Fair Perfection Right See World

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.

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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.

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Popular Authors

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