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The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgment with which it is anywhere directed, or applied, seem to have been the effects of the division of labour.
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
Skills
Directed
Judgment
Division
Effects
Skill
Seem
Labour
Greatest
Productive
Greater
Improvement
Part
Powers
Dexterity
Seems
Anywhere
Applied
More quotes by Adam Smith
Science is the great antidote to the poison of enthusiasm and superstition.
Adam Smith
The annual labour of every nation is the fund which originally supplies it with all the necessaries and conveniencies of life which it annually consumes, and which consist always either in the immediate produce of that labour, or in what is purchased with that produce from other nations.
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Defense is superior to opulence.
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Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.
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Nobody but a beggar chooses to depend chiefly upon the benevolence of his fellow-citizens.
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To hinder, besides, the farmer from selling his goods at all times to the best market, is evidently to sacrifice the ordinary laws of justice to an idea of public utility, to a sort of reasons of state an act of legislative authority which ought to be exercised only, which can be pardoned only in cases of the most urgent necessity.
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Fear is in almost all cases a wretched instrument of government, and ought in particular never to be employed against any order of men who have the smallest pretensions to independency.
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I have no faith in political arithmetic.
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Though the principles of the banking trade may appear somewhat abstruse, the practice is capable of being reduced to strict rules. To depart upon any occasion from those rules, is consequence of some flattering speculation of extraordinary gain, is almost always extremely dangerous, and frequently fatal to the banking company which attempts it.
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This is one of those cases in which the imagination is baffled by the facts.
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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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Have lots of experiments, but make sure they're strategically focused.
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Great nations are never impoverished by private, though they sometimes are by public prodigality and misconduct.
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Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things.
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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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China is a much richer country than any part of Europe.
Adam Smith
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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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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The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.
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To subject every private family to the odious visits and examination of the tax-gatherers ... would be altogether inconsistent with liberty.
Adam Smith
