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It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.
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
Almost
Manufactures
Natural
Diminish
Real
Gradually
Improvement
Price
Effect
However
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Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.
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It appears, accordingly, from the experience of all ages and nations, I believe, that the work done by freemen comes cheaper in the end than that performed by slaves.
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Wonder... and not any expectation of advantage from its discoveries, is the first principle which prompts mankind to the study of Philosophy, of that science which pretends to lay open the concealed connections that unite the various appearances of nature.
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By pursuing his own interest (the individual) frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good.
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To subject every private family to the odious visits and examination of the tax-gatherers ... would be altogether inconsistent with liberty.
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The world neither ever saw, nor ever will see, a perfectly fair lottery.
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The great affair, we always find, is to get money.
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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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All jobs are created in direct proportion to the amount of capital employed.
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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.
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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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By nature a philosopher is not in genius and disposition half so different from a street porter, as a mastiff is from a greyhound
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The machines that are first invented to perform any particular movement are always the most complex, and succeeding artists generally discover that, with fewer wheels, with fewer principles of motion, than had originally been employed, the same effects may be more easily produced. The first systems, in the same manner, are always the most complex.
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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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The uniform, constant, and uninterrupted effort of every man to better his condition . . . is frequently powerful enough to maintain the natural progress of things toward improvement, in spite of the extravagance of government, and of the greatest errors of administration.
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Wherever there is great property, there is great inequality.
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