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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

It must always be remembered, however, that it is the luxuries, and not the necessary expense of the inferior ranks of people, that ought ever to be taxed.
ADAM SMITH

Luxury Necessary People Price Remember Tax
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
Nothing but the most exemplary morals can give dignity to a man of small fortune.
ADAM SMITH

Dignity Fortune Man Moral Small
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
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
A merchant, it has been said very properly, is not necessarily the citizen of any particular country.
ADAM SMITH

Citizenship Country Necessary Property Trade
Consumption is the sole end and purpose of all production.
ADAM SMITH

Consumption End Production Purpose
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
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
Nothing is more graceful than habitual cheerfulness.
ADAM SMITH

Cheerful Grace Habit Happiness
The game women play is men.
ADAM SMITH

Game Man One Liner Play Relationship Woman
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 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 division of labour was limited by the extent of the market.
ADAM SMITH

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

Beggar Choice Citizenship Independent

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.

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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.

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Popular Authors

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