Quote

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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Adam Smith
Age: 67 †
Born: 1723
Born: June 16
Died: 1790
Died: July 17
Economist
Non-Fiction Writer
Philosopher
University Teacher
Writer
Lang Toun
Lose
Nearer
Numbers
Tickets
Loses
Loser
Greater
Certainty
Upon
Adventure
Business
Travel
Science
Number
Certain
Approach
Lottery

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Consumption is the sole end and purpose of all production and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer.
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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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How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it, except the pleasure of seeing it.
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It is not for its own sake that men desire money, but for the sake of what they can purchase with it.
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The propensity to truck, barter and exchange one thing for another is common to all men, and to be found in no other race of animals.
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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.
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The sneaking arts of underling tradesmen are thus erected into political maxims for the conduct of a great empire for it is the most underling tradesmen only who make it a rule to employ chiefly their own customers. A great trader purchases his good always where they are cheapest and best, without regard to any little interest of this kind.
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The liberal reward of labor, therefore, as it is the necessary effect, so it is the natural symptom of increasing national wealth. The scanty maintenance of the laboring poor, on the other hand, is the natural symptom that things are at a stand, and their starving condition that they going backwards fast.
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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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Though the profusion of Government must undoubtedly have retarded the natural progress of England to wealth and improvement, it has not been able to stop it.
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It appears, accordingly, from the experience of all ages and nations, I believe, that the work done by freemen comes cheaper in the end than that performed by slaves.
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All jobs are created in direct proportion to the amount of capital employed.
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In general, if any branch of trade, or any division of labour, be advantageous to the public, the freer and more general the competition, it will always be the more so.
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Happiness never lays its finger on its pulse.
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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.
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Humanity is the virtue of a woman, generosity that of a man.
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Men, like animals, naturally multiply in proportion to the means of their subsistence.
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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.
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Though the principles of the banking trade may appear somewhat abstruse, the practice is capable of being reduced to strict rules. To depart upon any occasion from those rules, is consequence of some flattering speculation of extraordinary gain, is almost always extremely dangerous, and frequently fatal to the banking company which attempts it.
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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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