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

Adam Smith

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
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
In general, if any branch of trade, or any division of labour, be advantageous to the public, the freer and more general the competition, it will always be the more so.
ADAM SMITH

Competition Freedom Trade Work
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
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
With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches.
ADAM SMITH

Enjoyment Greatness People Rich
The division of labour was limited by the extent of the market.
ADAM SMITH

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

Excitement Jealous Nation Violence
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
The great secret of education is to direct vanity to proper objects.
ADAM SMITH

Direction Education Greatness Object Secret
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
Science is the great antidote to the poison of enthusiasm and superstition.
ADAM SMITH

Belief Enthusiasm Medicine Poison Science Superstition
Have lots of experiments, but make sure they’re strategically focused.
ADAM SMITH

Advice Experiment Focus Strategy
Man, an animal that makes bargains.
ADAM SMITH

Animal Man One Liner

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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