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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

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
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
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
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
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
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
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
Defense is superior to opulence.
ADAM SMITH

Defense One Liner Protection
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
Every man lives by exchanging.
ADAM SMITH

Generosity Live Man
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
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
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
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
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
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 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.

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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.

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Popular Authors

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