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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

Consumption is the sole end and purpose of all production.
ADAM SMITH

Consumption End Production Purpose
The theory that can absorb the greatest number of facts, and persist in doing so, generation after generation, through all changes of opinion and detail, is the one that must rule all observation.
ADAM SMITH

Change Fact Generation Greatness Mathematics Opinion Rule Theory
Individual Ambition Serves the Common Good.
ADAM SMITH

Ambition Goodness Service
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
It must always be remembered, however, that it is the luxuries, and not the necessary expense of the inferior ranks of people, that ought ever to be taxed.
ADAM SMITH

Luxury Necessary People Price Remember Tax
Labor was the first price, the original purchase – money that was paid for all things.
ADAM SMITH

Economy Money Price Work
No complaint is more common than that of a scarcity of money.
ADAM SMITH

Complaint Money
In a militia, the character of the laborer, artificer, or tradesman, predominates over that of the soldier: in a standing army, that of the soldier predominates over every other character.
ADAM SMITH

Army Character Military Soldier Stand Trade
Every man lives by exchanging.
ADAM SMITH

Generosity Live Man
Wonder and not any expectation of advantage from its discoveries, is the first principle which prompts mankind to the study of Philosophy, of that science which pretends to lay open the concealed connections that unite the various appearances of nature.
ADAM SMITH

Appearance Connection Discover Expectation Kind Man Nature Philosophy Pretend Principle Science Study Wonderful
I have no faith in political arithmetic.
ADAM SMITH

Belief Faith Myself One Liner Politics
All money is a matter of belief.
ADAM SMITH

Belief Money One Liner
Men desire to have some share in the management of public affairs chiefly on account of the importance which it gives them.
ADAM SMITH

Desire Important Man Management Return
Science is the great antidote to the poison of enthusiasm and superstition.
ADAM SMITH

Belief Enthusiasm Medicine Poison Science Superstition
The great secret of education is to direct vanity to proper objects.
ADAM SMITH

Direction Education Greatness Object Secret
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
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
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
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
It appears, accordingly, from the experience of all ages and nations, I believe, that the work done by freemen comes cheaper in the end than that performed by slaves.
ADAM SMITH

Age Believe End Experience Freedom Man Nation Performance Slave
Corn is a necessary, silver is only a superfluity.
ADAM SMITH

Difference Food Necessary Worth
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
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
What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.
ADAM SMITH

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

Destruction Greatness Nation Poor Privacy
Mercy to the guilty is cruelty to the innocent.
ADAM SMITH

Cruelty Guilty Innocent Justice Mercy
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

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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