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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
Wealth
Money
Purchase
Labour
Firsts
Originals
First
Original
Things
Price
Labor
Paid
More quotes by 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
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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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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The theory that can absorb the greatest number of facts, and persist in doing so, generation after generation, through all changes of opinion and detail, is the one that must rule all observation.
Adam Smith
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.
Adam Smith
Sugar, rum and tobacco are commodities which are nowhere necessaries of life, which are become objects of almost universal consumption, and which are therefore extremely proper subjects of taxation.
Adam Smith
The tolls for the maintenance of a high road, cannot with any safety be made the property of private persons.
Adam Smith
The natural price, therefore, is, as it were, the central price, to which the prices of all commodities are continually gravitating.
Adam Smith
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.
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
The violence and injustice of the rulers of mankind is an ancient evil, for which, I am afraid, the nature of human affairs can scarce admit a remedy.
Adam Smith
In public, as well as in private expences, great wealth may, perhaps, frequently be admitted as an apology for great folly.
Adam Smith
Every man lives by exchanging.
Adam Smith
When the profits of trade happen to be greater than ordinary, over-trading becomes a general error both among great and small dealers.
Adam Smith
But poverty, though it does not prevent the generation, is extremely unfavourable to the rearing of children. The tender plant is produced, but in so cold a soil, and so severe a climate, soon withers and dies.
Adam Smith
The game women play is men.
Adam Smith
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.
Adam Smith
All jobs are created in direct proportion to the amount of capital employed.
Adam Smith
Individual Ambition Serves the Common Good.
Adam Smith
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.
Adam Smith
