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Wherever there is great property, there is great inequality.
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
Inequality
Wherever
Economics
Property
Great
Affluence
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Nothing but the most exemplary morals can give dignity to a man of small fortune.
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Every tax, however, is to the person who pays it a badge, not of slavery but of liberty. It denotes that he is a subject to government, indeed, but that, as he has some property, he cannot himself be the property of a master.
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No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable. It is but equity, besides, that they who feed, clothe and lodge the whole body of the people, should have such a share of the produce of their own labour as to be themselves tolerably well fed, clothed and lodged.
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The learned ignore the evidence of their senses to preserve the coherence of the ideas of their imagination.
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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.
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In this consists the difference between the character of a miser and that of a person of exact economy and assiduity. The one is anxious about small matters for their own sake the other attends to them only in consequence of the scheme of life which he has laid down to himself.
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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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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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A nation is not made wealthy by the childish accumulation of shiny metals, but it enriched by the economic prosperity of it's people.
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Mercy to the guilty is cruelty to the innocent.
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Though the profusion of Government must undoubtedly have retarded the natural progress of England to wealth and improvement, it has not been able to stop it.
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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.
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Good roads, canals, and navigable rivers, by diminishing the expence of carriage, put the remote parts of the country more nearly upon a level with with those of the neighbourhood of the town. They are upon that the greatest of all improvements.
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No complaint... is more common than that of a scarcity of money.
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The tolls for the maintenance of a high road, cannot with any safety be made the property of private persons.
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When profit diminishes, merchants are very apt to complain that trade decays though the diminution of profit is the natural effect of its prosperity, or of a greater stock being employed in it than before.
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The problem with fiat money is that it rewards the minority that can handle money, but fools the generation that has worked and saved money.
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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.
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