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Every man lives by exchanging.
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
Economics
Trade
Lives
Every
Men
Exchanging
More quotes by Adam Smith
Problems worthy of attacks, prove their worth by hitting back
Adam Smith
No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.
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The world neither ever saw, nor ever will see, a perfectly fair lottery.
Adam Smith
To found a great empire for the sole purpose of raising up a people of customers, may at first sight appear a project fit only for a nation of shopkeepers. It is, however, a project altogether unfit for a nation of shopkeepers but extremely fit for a nation whose government is influenced by shopkeepers.
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That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.
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Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life.
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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.
Adam Smith
But what all the violence of the feudal institutions could never have effected, the silent and insensible operation of foreign commerce and manufactures gradually brought about.
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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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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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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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The retinue of a grandee in China or Indostan accordingly is, by all accounts, much more numerous and splendid than that of the richest subjects of Europe.
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The man of system is apt to be very wise in his own conceit. In the great chess board of human society, every single piece has a principle of motion of its own altogether different from that which the legislature might choose to impress upon it
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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.
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
Virtue is more to be feared than vice, because its excesses are not subject to the regulation of conscience.
Adam Smith
I have no great faith in political arithmetic, and I mean not to warrant the exactness of either of these computations.
Adam Smith
Upstart greatness is everywhere less respected than ancient greatness.
Adam Smith
All for ourselves, and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind.
Adam Smith
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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