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That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.
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
Gains
Universal
Chance
Success
Lotteries
Learn
Valued
May
Lottery
Naturally
Gain
More quotes by Adam Smith
Every man lives by exchanging.
Adam Smith
Whenever the legislature attempts to regulate differences between masters and their workmen, its counsellors are always the masters. When the regulation, therefore, is in favor of the workmen, it is always just and equitable but it is sometimes otherwise when in favor of the masters.
Adam Smith
Wherever there is great property there is great inequality. For one very rich man there must be at least five hundred poor, and the affluence of the few supposes the indigence of the many. The affluence of the rich excites the indignation of the poor, who are often both driven by want, and prompted by envy, to invade his possessions.
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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.
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
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.
Adam Smith
Never complain of that of which it is at all times in your power to rid yourself.
Adam Smith
He is led by an invisible hand to promote an end which was no part of his intention
Adam Smith
It seldom happens, however, that a great proprietor is a great improver.
Adam Smith
The ancient Egyptians had a superstitious antipathy to the sea a superstition nearly of the same kind prevails among the Indians and the Chinese have never excelled in foreign commerce.
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The liberal reward of labour, therefore, as it is the affect of increasing wealth, so it is the cause of increasing population. To complain of it, is to lament over the necessary effect and cause of the greatest public prosperity.
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Happiness never lays its finger on its pulse.
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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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Nothing is more graceful than habitual cheerfulness.
Adam Smith
The great affair, we always find, is to get money.
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 first thing you have to know is yourself. A man who knows himself can step outside himself and watch his own reactions like an observer.
Adam Smith
Justice, however, never was in reality administered gratis in any country. Lawyers and attornies, at least, must always be paid by the parties and, if they were not, they would perform their duty still worse than they actually perform it.
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But poverty, though it does not prevent the generation, is extremely unfavourable to the rearing of children. The tender plant is produced, but in so cold a soil, and so severe a climate, soon withers and dies.
Adam Smith
