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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.
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
Ends
Raises
Diversion
Together
Economics
Hinder
Even
Competition
Monopoly
People
Trade
Prices
Meet
Conspiracy
Conversation
Seldom
Contrivance
Economic
Raise
Assembling
Public
Unions
Merriment
More quotes by Adam Smith
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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We are delighted to find a person who values us as we value ourselves, and distinguishes us from the rest of mankind, with an attention not unlike that with which we distinguish ourselves.
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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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Happiness never lays its finger on its pulse.
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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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Mercy to the guilty is cruelty to the innocent.
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An English university is a sanctuary in which exploded systems and obsolete prejudices find shelter and protection after they have been . hunted out of every corner of the world.
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I have never known much good done by those who affected to trade for the public good.
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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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When the profits of trade happen to be greater than ordinary, over-trading becomes a general error both among great and small dealers.
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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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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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With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches, which in their eye is never so complete as when they appear to possess those decisive marks of opulence which nobody can possess but themselves.
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The annual produce of the land and labour of any nation can be increased in its value by no other means, but by increasing either the number of its productive labourers, or the productive powers of those labourers who had before been employed.
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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.
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As we have no immediate experience of what other men feel, we can form no idea of the manner in which they are affected, but by conceiving what we ourselves should feel in the like situation.
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Great nations are never impoverished by private, though they sometimes are by public prodigality and misconduct.
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The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities.
Adam Smith
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.
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The learned ignore the evidence of their senses to preserve the coherence of the ideas of their imagination.
Adam Smith
