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I have no great faith in political arithmetic, and I mean not to warrant the exactness of either of these computations.

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
Great
Exactness
Warrant
Warrants
Arithmetic
Either
Faith
Political
Computations
Mean
Computation

More quotes by Adam Smith

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The proprietor of stock is necessarily a citizen of the world, and is not necessarily attached to any particular country.
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The division of labour was limited by the extent of the market
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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.
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It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.
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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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All jobs are created in direct proportion to the amount of capital employed.
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Nobody but a beggar chooses to depend chiefly upon the benevolence of his fellow-citizens.
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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.
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I am a beau in nothing but my books.
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That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.
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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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The difference between the most dissimilar characters, between a philosopher and a common street porter, for example, seems to arise not so much from nature, as from habit, custom, and education.
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Nobody ever saw a dog make a fair and deliberate exchange of one bone for another with another dog.
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Whatever work he does, beyond what is sufficient to purchase his own maintenance, can be squeezed out of him by violence only, and not by any interest of his own.
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Man is an animal that makes bargains: no other animal does this - no dog exchanges bones with another.
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No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable. It is but equity, besides, that they who feed, clothe and lodge the whole body of the people, should have such a share of the produce of their own labour as to be themselves tolerably well fed, clothed and lodged.
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Now many such things may be done without intitling the people to rise in arms. A gross, flagrant, and palpable abuse no doubt will do it, as if they should be required to pay a tax equal to half or third of their substance.
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It is the highest impertinence and presumption, therefore, in kings and ministers to pretend to watch over the economy of private people, and to restrain their expense. They are themselves, always, and without any exception, the greatest spendthrifts in the society.
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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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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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