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It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.

Adam Smith

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
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
Have lots of experiments, but make sure they’re strategically focused.
ADAM SMITH

Advice Experiment Focus Strategy
Man, an animal that makes bargains.
ADAM SMITH

Animal Man One Liner
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
Mercy to the guilty is cruelty to the innocent.
ADAM SMITH

Cruelty Guilty Innocent Justice Mercy
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
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
As soon as government management begins it upsets the natural equilibrium of industrial relations, and each interference only requires further bureaucratic control until the end is the tyranny of the totalitarian state.
ADAM SMITH

Beginning Control Destruction End Government Management Nature Relationship
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
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
It is not for its own sake that men desire money, but for the sake of what they can purchase with it.
ADAM SMITH

Desire Man Money Power
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
With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches.
ADAM SMITH

Enjoyment Greatness People Rich
Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.
ADAM SMITH

Buy Material Money Price Purpose Service

It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.

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It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.

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Popular Authors

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