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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

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
We are but one of the multitude, in no respect better than any other in it.
ADAM SMITH

Philosophy Respect
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
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
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
No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.
ADAM SMITH

Flourish Greatness Happiness Misery Poor Society
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
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

Customer Discipline Employment Exercise Fear Lose Man Mistake Reality 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
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
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
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
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
Consumption is the sole end and purpose of all production.
ADAM SMITH

Consumption End Production Purpose
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

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.

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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.

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Popular Authors

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