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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

The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgment with which it is anywhere directed, or applied, seem to have been the effects of the division of labour.
ADAM SMITH

Affect Direction Greatness Improvement Judgement Power Production Skill Work
That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.
ADAM SMITH

Chance Learning Nature Success Value
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
Individual Ambition Serves the Common Good.
ADAM SMITH

Ambition Goodness Service
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
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
On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.
ADAM SMITH

Journey Myself Path Road
Great nations are never impoverished by private, though they sometimes are by public prodigality and misconduct.
ADAM SMITH

Destruction Greatness Nation Poor Privacy
I am a beau in nothing but my books.
ADAM SMITH

Book Myself
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 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
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
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
No complaint is more common than that of a scarcity of money.
ADAM SMITH

Complaint Money
People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
ADAM SMITH

Conversation End Happiness Leaving People Price Togetherness Trade
A power to dispose of estates for ever is manifestly absurd. The earth and the fulness of it belongs to every generation, and the preceding one can have no right to bind it up from posterity. Such extension of property is quite unnatural.
ADAM SMITH

Earth Generation Mad Nature Power Property Right

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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