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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.
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
Profit
Merchants
Effect
Diminish
Trade
Complain
Effects
Employed
Greater
Decay
Though
Stock
Diminution
Natural
Complaining
Decays
Prosperity
Diminishes
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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All jobs are created in direct proportion to the amount of capital employed.
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Beneficence is always free, it cannot be extorted by force.
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The emotions of the spectator will still be very apt to fall short of the violence of what is felt by the sufferer. Mankind, though naturally sympathetic, never conceive, for what has befallen another, that degree of passion which naturally animates the person principally concerned.
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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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To feel much for others and little for ourselves, that to restrain our selfish, and to indulge our benevolent affections, constitutes the perfection of human nature.
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To found a great empire for the sole purpose of raising up a people of customers, may at first sight appear a project fit only for a nation of shopkeepers. It is, however, a project altogether unfit for a nation of shopkeepers but extremely fit for a nation whose government is influenced by shopkeepers.
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But though empires, like all the other works of men, have all hitherto proved mortal, yet every empire aims at immortality.
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Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life.
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I have no faith in political arithmetic.
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The rate of profit... is naturally low in rich and high in poor countries, and it is always highest in the countries which are going fastest to ruin.
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The principle which prompts to save is the desire of bettering our conditiona desire which?comes with us from the womb and never leaves us till we go into the grave.
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In general, if any branch of trade, or any division of labour, be advantageous to the public, the freer and more general the competition, it will always be the more so.
Adam Smith
Masters are always and everywhere in a sort of tacit, but constant and uniform combination, not to raise the wages of labor.
Adam Smith
With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches.
Adam Smith
The proprietor of stock is necessarily a citizen of the world, and is not necessarily attached to any particular country.
Adam Smith
The man of system is apt to be very wise in his own conceit. In the great chess board of human society, every single piece has a principle of motion of its own altogether different from that which the legislature might choose to impress upon it
Adam Smith
The learned ignore the evidence of their senses to preserve the coherence of the ideas of their imagination.
Adam Smith
Men, like animals, naturally multiply in proportion to the means of their subsistence.
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A gardener who cultivates his own garden with his own hands, unites in his own person the three different characters, of landlord, farmer, and labourer. His produce, therefore, should pay him the rent of the first, the profit of the second, and the wages of the third.
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