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In a militia, the character of the laborer, artificer, or tradesman, predominates over that of the soldier: in a standing army, that of the soldier predominates over every other character.
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
Every
Laborers
Militia
Soldier
Army
Standing
Artificer
Arms
Tradesman
Military
Predominates
Character
Laborer
More quotes by Adam Smith
The division of labour was limited by the extent of the market
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But what all the violence of the feudal institutions could never have effected, the silent and insensible operation of foreign commerce and manufactures gradually brought about.
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The annual labour of every nation is the fund which originally supplies it with all the necessaries and conveniencies of life which it annually consumes, and which consist always either in the immediate produce of that labour, or in what is purchased with that produce from other nations.
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It seldom happens, however, that a great proprietor is a great improver.
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Thus the labour of a manufacture adds, generally, to the value of the materials which he works upon, that of his own maintenance, and of his masters profits. The labour of a menial servant, on the contrary, adds to the value of nothing.
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That a joint stock company should be able to carry on successfully any branch of foreign trade, when private adventurers can come into any sort of open and fair competition with them, seems contrary to all experience.
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.
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It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.
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Men desire to have some share in the management of public affairs chiefly on account of the importance which it gives them.
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As soon as government management begins it upsets the natural equilibrium of industrial relations, and each interference only requires further bureaucratic control until the end is the tyranny of the totalitarian state.
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Individual Ambition Serves the Common Good.
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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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The world neither ever saw, nor ever will see, a perfectly fair lottery.
Adam Smith
All jobs are created in direct proportion to the amount of capital employed.
Adam Smith
What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.
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.
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.
Adam Smith
We are but one of the multitude, in no respect better than any other in it.
Adam Smith
All money is a matter of belief.
Adam Smith
Every individual necessarily labors to render the annual revenue of society as great as he can. He generally neither intends to promote the public interest, nor knows how much he is promoting it. He intends only his own gain, and he is, in this, as in many other cases, led by an invisible hand to promote an end which was not part of his intention.
Adam Smith
