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Every man lives by exchanging.

Adam Smith

I have no great faith in political arithmetic, and I mean not to warrant the exactness of either of these computations.
ADAM SMITH

Faith Greatness Myself Politics
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
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
Virtue is more to be feared than vice, because its excesses are not subject to the regulation of conscience.
ADAM SMITH

Consience Fear Vice Virtue
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
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
I have never known much good done by those who affected to trade for the public good.
ADAM SMITH

Affect Goodness Myself Trade
I am a beau in nothing but my books.
ADAM SMITH

Book Myself
Mercy to the guilty is cruelty to the innocent.
ADAM SMITH

Cruelty Guilty Innocent Justice Mercy
Great nations are never impoverished by private, though they sometimes are by public prodigality and misconduct.
ADAM SMITH

Destruction Greatness Nation Poor Privacy
Nothing but the most exemplary morals can give dignity to a man of small fortune.
ADAM SMITH

Dignity Fortune Man Moral Small
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
The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgment with which it is anywhere directed, or applied, seem to have been the effects of the division of labour.
ADAM SMITH

Affect Direction Greatness Improvement Judgement Power Production Skill Work
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
It is the highest impertinence and presumption, therefore, in kings and ministers to pretend to watch over the economy of private people, and to restrain their expense. They are themselves, always, and without any exception, the greatest spendthrifts in the society.
ADAM SMITH

Economy Greatness King People Pretend Privacy Society

Every man lives by exchanging.

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Every man lives by exchanging.

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