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No complaint... is more common than that of a scarcity of money.
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
Scarcity
Complaints
Common
Money
Reality
Complaint
More quotes by Adam Smith
It must always be remembered, however, that it is the luxuries, and not the necessary expense of the inferior ranks of people, that ought ever to be taxed.
Adam Smith
Wherever there is great property, there is great inequality.
Adam Smith
The importation of gold and silver is not the principal, much less the sole benefit which a nation derives from its foreign trade.
Adam Smith
The annual labour of every nation is the fund which originally supplies it with all the necessaries and conveniencies of life which it annually consumes, and which consist always either in the immediate produce of that labour, or in what is purchased with that produce from other nations.
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.
Adam Smith
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.
Adam Smith
Labor was the first price, the original purchase - money that was paid for all things.
Adam Smith
A sketch of a man facing to the right.
Adam Smith
The first thing you have to know is yourself. A man who knows himself can step outside himself and watch his own reactions like an observer.
Adam Smith
Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.
Adam Smith
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
As we have no immediate experience of what other men feel, we can form no idea of the manner in which they are affected, but by conceiving what we ourselves should feel in the like situation.
Adam Smith
Secrets in manufactures are capable of being longer kept than secrets in trade.
Adam Smith
By pursuing his own interest (the individual) frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good.
Adam Smith
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.
Adam Smith
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
What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.
Adam Smith
Capitals are increased by parsimony, and diminished by prodigalityand misconduct. By what a frugal man annually saves he not onlyaffords maintenance to an additional number of productive hands?but?he establishes as it were a perpetual fund for the maintenance of an equal number in all times to come.
Adam Smith
Every tax, however, is to the person who pays it a badge, not of slavery but of liberty. It denotes that he is a subject to government, indeed, but that, as he has some property, he cannot himself be the property of a master.
Adam Smith
Masters are always and everywhere in a sort of tacit, but constant and uniform combination, not to raise the wages of labor.
Adam Smith
