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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

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
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
Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.
ADAM SMITH

Excitement Jealous Nation Violence
Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life.
ADAM SMITH

Enjoy Fulfill Human Life Man Necessary Poor Rich Satisfaction
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 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
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
Ask any rich man of common prudence to which of the two sorts of people he has lent the greater part of his stock, to those who, he thinks, will employ it profitably, or to those who will spend it idly, and he will laugh at you for proposing the question.
ADAM SMITH

Employment Greatness Laughter Man People Propose Rich Thinking
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
Labor was the first price, the original purchase – money that was paid for all things.
ADAM SMITH

Economy Money Price Work
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
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
How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it, except the pleasure of seeing it.
ADAM SMITH

Evidence Exception Fortune Happiness Himself Man Nature Necessary Principle See Selfish
Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things.
ADAM SMITH

Administration Carry Easy Justice Low Nature Peace State Tolerance
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
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

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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