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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
Effect
However
Effects
Almost
Manufactures
Natural
Diminish
Real
Gradually
Improvement
Price
More quotes by Adam Smith
Men, like animals, naturally multiply in proportion to the means of their subsistence.
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Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.
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Great nations are never impoverished by private, though they sometimes are by public prodigality and misconduct.
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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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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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The world neither ever saw, nor ever will see, a perfectly fair lottery.
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It is not for its own sake that men desire money, but for the sake of what they can purchase with it.
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It must always be remembered, however, that it is the luxuries, and not the necessary expense of the inferior ranks of people, that ought ever to be taxed.
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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.
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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.
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Corn is a necessary, silver is only a superfluity.
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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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As we have no immediate experience of what other men feel, we can form no idea of the manner in which they are affected, but by conceiving what we ourselves should feel in the like situation.
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Adventure upon all the tickets in the lottery, and you lose for certain and the greater the number of your tickets the nearer your approach to this certainty.
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The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgment with which it is anywhere directed, or applied, seem to have been the effects of the division of labour.
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What can be added to the happiness of the man who is in health, who is out of debt, and has a clear conscience?
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Mercy to the guilty is cruelty to the innocent.
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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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When the profits of trade happen to be greater than ordinary, over-trading becomes a general error both among great and small dealers.
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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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