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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
Effects
Employed
Greater
Decay
Though
Stock
Diminution
Natural
Complaining
Decays
Prosperity
Diminishes
Profit
Merchants
Effect
Diminish
Trade
Complain
More quotes by Adam Smith
To expect, indeed, that the freedom of trade should ever be entirely restored in Great Britain, is as absurd as to expect that an Oceana or Utopia should never be established in it.
Adam Smith
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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Great nations are never impoverished by private, though they sometimes are by public prodigality and misconduct.
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Defense is superior to opulence.
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All jobs are created in direct proportion to the amount of capital employed.
Adam Smith
Happiness never lays its finger on its pulse.
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The natural effort of every individual to better his own condition is so powerful that it is alone, and without any assistance, capable not only of carrying on the society to wealth and prosperity, but of surmounting 100 impertinent obstructions with which the folly of human laws too often encumbers its operations.
Adam Smith
Upstart greatness is everywhere less respected than ancient greatness.
Adam Smith
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.
Adam Smith
In every part of the universe we observe means adjusted with the nicest artifice to the ends which they are intended to produce and in the mechanism of a plant, or animal body, admire how every thing is contrived for advancing the two great purposes of nature, the support of the individual, and the propagation of the species.
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Nobody ever saw a dog make a fair and deliberate exchange of one bone for another with another dog.
Adam Smith
Man is an animal that makes bargains: no other animal does this - no dog exchanges bones with another.
Adam Smith
Consumption is the sole end and purpose of all production.
Adam Smith
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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Civil government, so far as it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all.
Adam Smith
The property which every man has in his own labour, as it is the original foundation of all other property, so it is the most sacred and inviolable.
Adam Smith
In ease of body, peace of mind, all the different ranks of life are nearly upon a level and the beggar who suns himself by the side of the highway, possesses that security which kings are fighting for.
Adam Smith
The division of labour was limited by the extent of the market
Adam Smith
All registers which, it is acknowledged, ought to be kept secret, ought certainly never to exist.
Adam Smith
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.
Adam Smith
