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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.

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
Take
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Graces
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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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Corn is a necessary, silver is only a superfluity.
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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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Masters are always and everywhere in a sort of tacit, but constant and uniform combination, not to raise the wages of labor.
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The importation of gold and silver is not the principal, much less the sole benefit which a nation derives from its foreign trade.
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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 the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.
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It is the highest impertinence and presumption, therefore, in kings and ministers to pretend to watch over the economy of private people, and to restrain their expense. They are themselves, always, and without any exception, the greatest spendthrifts in the society.
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The interest of the dealers, however, in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public. To widen the market and to narrow the competition, is always the interest of the dealers.
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Great ambition, the desire of real superiority, of leading and directing, seems to be altogether peculiar to man, and speech is the great instrument of ambition.
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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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Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.
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We are but one of the multitude, in no respect better than any other in it.
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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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On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.
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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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Wherever there is great property, there is great inequality.
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A sketch of a man facing to the right.
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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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