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On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.
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
Valleys
Pass
Road
City
Progress
Ambiguity
Cities
Valley
Economy
Skeptical
Skepticism
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Problems worthy of attacks, prove their worth by hitting back
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Humanity is the virtue of a woman, generosity that of a man.
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I am always willing to run some hazard of being tedious, in order to be sure that I am perspicuous and, after taking the utmost pains that I can to be perspicuous, some obscurity may still appear to remain upon a subject, in its own nature extremely abstracted.
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Labor was the first price, the original purchase - money that was paid for all things.
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An instructed and intelligent people are always more decent and orderly than an ignorant and stupid one.
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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
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.
Adam Smith
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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In ease of body, peace of mind, all the different ranks of life are nearly upon a level and the beggar who suns himself by the side of the highway, possesses that security which kings are fighting for.
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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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It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
Adam Smith
Consumption is the sole end and purpose of all production.
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To hinder, besides, the farmer from selling his goods at all times to the best market, is evidently to sacrifice the ordinary laws of justice to an idea of public utility, to a sort of reasons of state an act of legislative authority which ought to be exercised only, which can be pardoned only in cases of the most urgent necessity.
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The annual produce of the land and labour of any nation can be increased in its value by no other means, but by increasing either the number of its productive labourers, or the productive powers of those labourers who had before been employed.
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A merchant, it has been said very properly, is not necessarily the citizen of any particular country.
Adam Smith
Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.
Adam Smith
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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People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
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In every part of the universe we observe means adjusted with the nicest artifice to the ends which they are intended to produce and in the mechanism of a plant, or animal body, admire how every thing is contrived for advancing the two great purposes of nature, the support of the individual, and the propagation of the species.
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Secrets in manufactures are capable of being longer kept than secrets in trade.
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