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It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.
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
Economy
Banking
Greater
Operations
Part
Capital
Country
Productive
Would
Otherwise
Active
Augmenting
Increase
Judicious
Industry
Rendering
More quotes by Adam Smith
I have no great faith in political arithmetic, and I mean not to warrant the exactness of either of these computations.
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Fear is in almost all cases a wretched instrument of government, and ought in particular never to be employed against any order of men who have the smallest pretensions to independency.
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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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We are but one of the multitude, in no respect better than any other in it.
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Men desire to have some share in the management of public affairs chiefly on account of the importance which it gives them.
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A very poor man may be said in some sense to have a demand for a coach and six he might like to have it but his demand is not an effectual demand, as the commodity can never be brought to market in order to satisfy it.
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The difference between the most dissimilar characters, between a philosopher and a common street porter, for example, seems to arise not so much from nature, as from habit, custom, and education.
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As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce.
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Every faculty in one man is the measure by which he judges of the like faculty in another. I judge of your sight by my sight, of your ear by my ear, of your reason by my reason, of your resentment by my resentment, of your love by my love. I neither have, nor can have, any other way of judging about them.
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Problems worthy of attacks, prove their worth by hitting back
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The man scarce lives who is not more credulous than he ought to be... The natural disposition is always to believe. It is acquired wisdom and experience only that teach incredulity, and they very seldom teach it enough.
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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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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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This is one of those cases in which the imagination is baffled by the facts.
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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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Every man lives by exchanging.
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Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.
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The game women play is men.
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