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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

Every tax ought to be so contrived as both to take out and to keep out of the pockets of the people as little as possible, over and above what it brings into the public treasury of the State.
ADAM SMITH

People Possible Tax Treasure
Corn is a necessary, silver is only a superfluity.
ADAM SMITH

Difference Food Necessary Worth
In the long-run the workman may be as necessary to his master as his master is to him, but the necessity is not so immediate.
ADAM SMITH

Himself Man Necessary Work
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 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
The property which every man has in his own labour, as it is the original foundation of all other property, so it is the most sacred and inviolable.
ADAM SMITH

Foundation Man Property
How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it, except the pleasure of seeing it.
ADAM SMITH

Evidence Exception Fortune Happiness Himself Man Nature Necessary Principle See Selfish
I am a beau in nothing but my books.
ADAM SMITH

Book Myself
The violence and injustice of the rulers of mankind is an ancient evil, for which, I am afraid, the nature of human affairs can scarce admit a remedy.
ADAM SMITH

Afraid Cure Evil Human Injustice Kind Man Nature Rule Violence
We are but one of the multitude, in no respect better than any other in it.
ADAM SMITH

Philosophy Respect
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
Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.
ADAM SMITH

Excitement Jealous Nation Violence
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
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
Every man lives by exchanging.
ADAM SMITH

Generosity Live Man
The division of labour was limited by the extent of the market.
ADAM SMITH

Limitation Market Price

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.

Related Topics

Popular Authors

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