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All money is a matter of belief.

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
Matter
Believe
Finance
Economics
Economy
Belief

More quotes by Adam Smith

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Justice, however, never was in reality administered gratis in any country. Lawyers and attornies, at least, must always be paid by the parties and, if they were not, they would perform their duty still worse than they actually perform it.
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The man scarce lives who is not more credulous than he ought to be... The natural disposition is always to believe. It is acquired wisdom and experience only that teach incredulity, and they very seldom teach it enough.
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Mercy to the guilty is cruelty to the innocent.
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In the long-run the workman may be as necessary to his master as his master is to him, but the necessity is not so immediate.
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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.
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That wealth and greatness are often regarded with the respect and admiration which are due only to wisdom and virtue and that the contempt, of which vice and folly are the only proper objects, is most often unjustly bestowed upon poverty and weakness, has been the complaint of moralists in all ages.
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It is unjust that the whole of society should contribute towards an expence of which the benefit is confined to a part of the society.
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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.
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That a joint stock company should be able to carry on successfully any branch of foreign trade, when private adventurers can come into any sort of open and fair competition with them, seems contrary to all experience.
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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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When profit diminishes, merchants are very apt to complain that trade decays though the diminution of profit is the natural effect of its prosperity, or of a greater stock being employed in it than before.
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The man of system is apt to be very wise in his own conceit. In the great chess board of human society, every single piece has a principle of motion of its own altogether different from that which the legislature might choose to impress upon it
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No complaint... is more common than that of a scarcity of money.
Adam Smith
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Adventure upon all the tickets in the lottery, and you lose for certain and the greater the number of your tickets the nearer your approach to this certainty.
Adam Smith
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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
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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.
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Individual Ambition Serves the Common Good.
Adam Smith
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The learned ignore the evidence of their senses to preserve the coherence of the ideas of their imagination.
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I have no great faith in political arithmetic, and I mean not to warrant the exactness of either of these computations.
Adam Smith
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Man is an animal that makes bargains: no other animal does this - no dog exchanges bones with another.
Adam Smith