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Labor was the first price, the original purchase - money that was paid for all things.
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
Paid
Wealth
Money
Purchase
Firsts
Labour
First
Originals
Things
Original
Price
Labor
More quotes by 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.
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Whenever the legislature attempts to regulate differences between masters and their workmen, its counsellors are always the masters. When the regulation, therefore, is in favor of the workmen, it is always just and equitable but it is sometimes otherwise when in favor of the masters.
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Secrets in manufactures are capable of being longer kept than secrets in trade.
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What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.
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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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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.
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Civil government, so far as it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all.
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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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This is one of those cases in which the imagination is baffled by the facts.
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Happiness never lays its finger on its pulse.
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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.
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All jobs are created in direct proportion to the amount of capital employed.
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Whatever work he does, beyond what is sufficient to purchase his own maintenance, can be squeezed out of him by violence only, and not by any interest of his own.
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For a very small expence the public can facilitate, can encourage, and can even impose upon almost the whole body of the people, the necessity of acquiring those most essential parts of education.
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A gardener who cultivates his own garden with his own hands, unites in his own person the three different characters, of landlord, farmer, and labourer. His produce, therefore, should pay him the rent of the first, the profit of the second, and the wages of the third.
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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
The learned ignore the evidence of their senses to preserve the coherence of the ideas of their imagination.
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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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Consumption is the sole end and purpose of all production.
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Avarice and injustice are always shortsighted, and they did not foresee how much this regulation must obstruct improvement, and thereby hurt in the long-run the real interest of the landlord.
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