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The world neither ever saw, nor ever will see, a perfectly fair lottery.
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
World
Lottery
Perfectly
Fairs
Fair
Neither
Saws
Ever
More quotes by Adam Smith
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 education of the common people requires, perhaps, in a civilized and commercial society, the attention of the public more than that of people of some rank and fortune.
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It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
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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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Nobody but a beggar chooses to depend chiefly upon the benevolence of his fellow-citizens.
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The division of labour was limited by the extent of the market
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Wherever there is great property, there is great inequality.
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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.
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Secrets in manufactures are capable of being longer kept than secrets in trade.
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I have never known much good done by those who affected to trade for the public good.
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For a very small expence the public can facilitate, can encourage, and can even impose upon almost the whole body of the people, the necessity of acquiring those most essential parts of education.
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In the long-run the workman may be as necessary to his master as his master is to him, but the necessity is not so immediate.
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All money is a matter of belief.
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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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A sketch of a man facing to the right.
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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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What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.
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All jobs are created in direct proportion to the amount of capital employed.
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Have lots of experiments, but make sure they're strategically focused.
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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.
Adam Smith
