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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
Every individual necessarily labors to render the annual revenue of society as great as he can. He generally neither intends to promote the public interest, nor knows how much he is promoting it. He intends only his own gain, and he is, in this, as in many other cases, led by an invisible hand to promote an end which was not part of his intention.
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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 proprietor of stock is necessarily a citizen of the world, and is not necessarily attached to any particular country.
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It is not for its own sake that men desire money, but for the sake of what they can purchase with it.
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In public, as well as in private expences, great wealth may, perhaps, frequently be admitted as an apology for great folly.
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Whatever work he does, beyond what is sufficient to purchase his own maintenance, can be squeezed out of him by violence only, and not by any interest of his own.
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Labour was the first price, the original purchase - money that was paid for all things. It was not by gold or by silver, but by labour, that all wealth of the world was originally purchased.
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The violence and injustice of the rulers of mankind is an ancient evil, for which, I am afraid, the nature of human affairs can scarce admit a remedy.
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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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A sketch of a man facing to the right.
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The real and effectual discipline which is exercised over a workman is that of his customers. It is the fear of losing their employment which restrains his frauds and corrects his negligence.
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The theory that can absorb the greatest number of facts, and persist in doing so, generation after generation, through all changes of opinion and detail, is the one that must rule all observation.
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The great affair, we always find, is to get money.
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The great secret of education is to direct vanity to proper objects.
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The game women play is men.
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Resentment seems to have been given us by nature for a defense, and for a defense only! It is the safeguard of justice and the security of innocence.
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When we have read a book or poem so often that we can no longer find any amusement in reading it by ourselves, we can still take pleasure in reading it to a companion. To him it has all the graces of novelty.
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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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What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.
Adam Smith
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.
Adam Smith
