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The real and effectual discipline which is exercised over a workman is that of his customers. It is the fear of losing their employment which restrains his frauds and corrects his negligence.

Adam Smith

Happiness never lays its finger on its pulse.
ADAM SMITH

Fingers Happiness Wisdom
The world neither ever saw, nor ever will see, a perfectly fair lottery.
ADAM SMITH

Fair Perfection Right See World
Every man lives by exchanging.
ADAM SMITH

Generosity Live Man
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
The first thing you have to know is yourself. A man who knows himself can step outside himself and watch his own reactions like an observer.
ADAM SMITH

Character Deep Himself Man Reaction Yourself
I am a beau in nothing but my books.
ADAM SMITH

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

Destruction Greatness Nation Poor Privacy
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
Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.
ADAM SMITH

Excitement Jealous Nation 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
A merchant, it has been said very properly, is not necessarily the citizen of any particular country.
ADAM SMITH

Citizenship Country Necessary Property Trade
Whatever work he does, beyond what is sufficient to purchase his own maintenance, can be squeezed out of him by violence only, and not by any interest of his own.
ADAM SMITH

Beyond Himself Maintain Violence Work
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 property which every man has in his own labour, as it is the original foundation of all other property, so it is the most sacred and inviolable.
ADAM SMITH

Foundation Man Property
On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.
ADAM SMITH

Journey Myself Path Road
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

The real and effectual discipline which is exercised over a workman is that of his customers. It is the fear of losing their employment which restrains his frauds and corrects his negligence.

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The real and effectual discipline which is exercised over a workman is that of his customers. It is the fear of losing their employment which restrains his frauds and corrects his negligence.

Related Topics

Popular Authors

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