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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
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Adam Smith
Age: 67 †
Born: 1723
Born: June 16
Died: 1790
Died: July 17
Economist
Non-Fiction Writer
Philosopher
University Teacher
Writer
Lang Toun
Money
Originals
Firsts
Original
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Prosperity
Things
Price
Purchased
World
Labor
Purchase
Gold
Originally
Paid
Labour
Wealth
Silver
More quotes by Adam Smith
Now many such things may be done without intitling the people to rise in arms. A gross, flagrant, and palpable abuse no doubt will do it, as if they should be required to pay a tax equal to half or third of their substance.
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A power to dispose of estates for ever is manifestly absurd. The earth and the fulness of it belongs to every generation, and the preceding one can have no right to bind it up from posterity. Such extension of property is quite unnatural.
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On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.
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The proprietor of stock is necessarily a citizen of the world, and is not necessarily attached to any particular country.
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No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.
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The property which every man has in his own labour, as it is the original foundation of all other property, so it is the most sacred and inviolable.
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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.
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Masters are always and everywhere in a sort of tacit, but constant and uniform combination, not to raise the wages of labor.
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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.
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The natural price, therefore, is, as it were, the central price, to which the prices of all commodities are continually gravitating.
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No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable. It is but equity, besides, that they who feed, clothe and lodge the whole body of the people, should have such a share of the produce of their own labour as to be themselves tolerably well fed, clothed and lodged.
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Every individual necessarily labors to render the annual revenue of society as great as he can. He generally neither intends to promote the public interest, nor knows how much he is promoting it. He intends only his own gain, and he is, in this, as in many other cases, led by an invisible hand to promote an end which was not part of his intention.
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There is no art which government sooner learns of another than that of draining money from the pockets of the people.
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Great nations are never impoverished by private, though they sometimes are by public prodigality and misconduct.
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The principle which prompts to save is the desire of bettering our conditiona desire which?comes with us from the womb and never leaves us till we go into the grave.
Adam Smith
Have lots of experiments, but make sure they're strategically focused.
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The cheapness of wine seems to be a cause, not of drunkenness, but of sobriety. ...People are seldom guilty of excess in what is their daily fare... On the contrary, in the countries which, either from excessive heat or cold, produce no grapes, and where wine consequently is dear and a rarity, drunkenness is a common vice.
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