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What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.

Adam Smith

It is the highest impertinence and presumption, therefore, in kings and ministers to pretend to watch over the economy of private people, and to restrain their expense. They are themselves, always, and without any exception, the greatest spendthrifts in the society.
ADAM SMITH

Economy Greatness King People Pretend Privacy Society
Great nations are never impoverished by private, though they sometimes are by public prodigality and misconduct.
ADAM SMITH

Destruction Greatness Nation Poor Privacy
Civil government, so far as it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all.
ADAM SMITH

Defense Government Institution Poor Property Reality Rich Security
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
All money is a matter of belief.
ADAM SMITH

Belief Money One Liner
A nation is not made wealthy by the childish accumulation of shiny metals, but it enriched by the economic prosperity of it’s people.
ADAM SMITH

Children Material Nation People Prosperity Wealth
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
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
Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.
ADAM SMITH

Excitement Jealous Nation Violence
The proprietor of stock is necessarily a citizen of the world, and is not necessarily attached to any particular country.
ADAM SMITH

Attachment Citizenship Country Necessary World
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
Have lots of experiments, but make sure they’re strategically focused.
ADAM SMITH

Advice Experiment Focus Strategy
Individual Ambition Serves the Common Good.
ADAM SMITH

Ambition Goodness Service
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
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
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

What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.

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What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.

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