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The division of labour was limited by the extent of the market
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
Limited
Economics
Market
Division
Extent
Labour
More quotes by Adam Smith
Poor David Hume is dying fast, but with more real cheerfulness and good humor and with more real resignation to the necessary course of things, than any whining Christian ever dyed with pretended resignation to the will of God.
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Wherever there is great property there is great inequality. For one very rich man there must be at least five hundred poor, and the affluence of the few supposes the indigence of the many. The affluence of the rich excites the indignation of the poor, who are often both driven by want, and prompted by envy, to invade his possessions.
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What can be added to the happiness of the man who is in health, who is out of debt, and has a clear conscience?
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Beneficence is always free, it cannot be extorted by force.
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Virtue is more to be feared than vice, because its excesses are not subject to the regulation of conscience.
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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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As soon as government management begins it upsets the natural equilibrium of industrial relations, and each interference only requires further bureaucratic control until the end is the tyranny of the totalitarian state.
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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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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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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 ancient Egyptians had a superstitious antipathy to the sea a superstition nearly of the same kind prevails among the Indians and the Chinese have never excelled in foreign commerce.
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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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The great secret of education is to direct vanity to proper objects.
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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.
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Man is an animal that makes bargains: no other animal does this - no dog exchanges bones with another.
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The proprietor of stock is necessarily a citizen of the world, and is not necessarily attached to any particular country.
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Consumption is the sole end and purpose of all production and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer.
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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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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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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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