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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

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
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
Nobody but a beggar chooses to depend chiefly upon the benevolence of his fellow-citizens.
ADAM SMITH

Beggar Choice Citizenship Independent
The disposition to admire, and almost to worship, the rich and the powerful, and to despise, or, at least, to neglect persons of poor and mean condition is the great and most universal cause of the corruption of our moral sentiments.
ADAM SMITH

Corruption Emotion Greatness Moral Ourselves Person Poor Powerful Rich Worship
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
Defense is superior to opulence.
ADAM SMITH

Defense One Liner Protection
There is no art which government sooner learns of another than that of draining money from the pockets of the people.
ADAM SMITH

Art Democracy Government Learning Money People Politics
Great nations are never impoverished by private, though they sometimes are by public prodigality and misconduct.
ADAM SMITH

Destruction Greatness Nation Poor Privacy
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
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
A very poor man may be said in some sense to have a demand for a coach and six; he might like to have it; but his demand is not an effectual demand, as the commodity can never be brought to market in order to satisfy it.
ADAM SMITH

Demand Man Market Poor Product Satisfaction
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
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
Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.
ADAM SMITH

Excitement Jealous Nation Violence
Virtue is more to be feared than vice, because its excesses are not subject to the regulation of conscience.
ADAM SMITH

Consience Fear Vice Virtue
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

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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