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Labor was the first price, the original purchase – money that was paid for all things.

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
An instructed and intelligent people are always more decent and orderly than an ignorant and stupid one.
ADAM SMITH

Ignorance Instruction Intelligence Oneself Order People Stupidity
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
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
Resentment seems to have been given us by nature for a defense, and for a defense only! It is the safeguard of justice and the security of innocence.
ADAM SMITH

Defense Guard Hate Innocence Justice Nature Safety Security
We are but one of the multitude, in no respect better than any other in it.
ADAM SMITH

Philosophy Respect
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
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 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
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
The learned ignore the evidence of their senses to preserve the coherence of the ideas of their imagination.
ADAM SMITH

Evidence Ideas Ignorance Imagination Learning
Science is the great antidote to the poison of enthusiasm and superstition.
ADAM SMITH

Belief Enthusiasm Medicine Poison Science Superstition
An English university is a sanctuary in which exploded systems and obsolete prejudices find shelter and protection after they have been . Hunted out of every corner of the world.
ADAM SMITH

Explosion Home Hunt Prejudice Protection World
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
Have lots of experiments, but make sure they’re strategically focused.
ADAM SMITH

Advice Experiment Focus Strategy
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

Labor was the first price, the original purchase – money that was paid for all things.

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Labor was the first price, the original purchase – money that was paid for all things.

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Popular Authors

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