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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

All money is a matter of belief.
ADAM SMITH

Belief Money One Liner
On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.
ADAM SMITH

Journey Myself Path Road
The interest of the dealers, however, in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public. To widen the market and to narrow the competition, is always the interest of the dealers.
ADAM SMITH

Deal Different Manufacture Respect Trade
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
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 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
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
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
Defense is superior to opulence.
ADAM SMITH

Defense One Liner Protection
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
In a militia, the character of the laborer, artificer, or tradesman, predominates over that of the soldier: in a standing army, that of the soldier predominates over every other character.
ADAM SMITH

Army Character Military Soldier Stand Trade
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 by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.
ADAM SMITH

Active Country Greatness Production
Civil government, so far as it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all.
ADAM SMITH

Defense Government Institution Poor Property Reality Rich Security
The propensity to truck, barter and exchange one thing for another is common to all men, and to be found in no other race of animals.
ADAM SMITH

Animal Man Race
Beneficence is always free, it cannot be extorted by force.
ADAM SMITH

Destroy Force Freedom

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.

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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.

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Popular Authors

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