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All money is a matter of belief.

Adam Smith

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
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
Nothing but the most exemplary morals can give dignity to a man of small fortune.
ADAM SMITH

Dignity Fortune Man Moral Small
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

Country Deep Destruction Fast Poor Profit Rich Ruin
Man naturally desires, not only to be loved, but to be lovely; or to be that thing which is the natural and proper object of love.
ADAM SMITH

Desire Love Man Nature Object
A merchant, it has been said very properly, is not necessarily the citizen of any particular country.
ADAM SMITH

Citizenship Country Necessary Property Trade
The great secret of education is to direct vanity to proper objects.
ADAM SMITH

Direction Education Greatness Object Secret
It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.
ADAM SMITH

Affect Improvement Manufacture Natural Price Reality
Nobody but a beggar chooses to depend chiefly upon the benevolence of his fellow-citizens.
ADAM SMITH

Beggar Choice Citizenship Independent
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
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
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
Every man lives by exchanging.
ADAM SMITH

Generosity Live Man
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
He is led by an invisible hand to promote an end which was no part of his intention.
ADAM SMITH

End Hands Himself Intention Leadership
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

All money is a matter of belief.

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All money is a matter of belief.

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