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In the long-run the workman may be as necessary to his master as his master is to him, but the necessity is not so immediate.
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
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Masters
Necessary
Running
Workman
May
Workmen
Long
Immediate
Necessity
Management
More quotes by 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.
Adam Smith
The game women play is men.
Adam Smith
Nothing but the most exemplary morals can give dignity to a man of small fortune.
Adam Smith
The proprietor of stock is necessarily a citizen of the world, and is not necessarily attached to any particular country.
Adam Smith
Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.
Adam Smith
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.
Adam Smith
Every tax ought to be so contrived as both to take out and to keep out of the pockets of the people as little as possible, over and above what it brings into the public treasury of the State.
Adam Smith
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.
Adam Smith
Great nations are never impoverished by private, though they sometimes are by public prodigality and misconduct.
Adam Smith
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.
Adam Smith
Mercy to the guilty is cruelty to the innocent.
Adam Smith
That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.
Adam Smith
Science is the great antidote to the poison of enthusiasm and superstition.
Adam Smith
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.
Adam Smith
Man, an animal that makes bargains.
Adam Smith
The natural price, therefore, is, as it were, the central price, to which the prices of all commodities are continually gravitating.
Adam Smith
But though empires, like all the other works of men, have all hitherto proved mortal, yet every empire aims at immortality.
Adam Smith
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
A gardener who cultivates his own garden with his own hands, unites in his own person the three different characters, of landlord, farmer, and labourer. His produce, therefore, should pay him the rent of the first, the profit of the second, and the wages of the third.
Adam Smith
In every part of the universe we observe means adjusted with the nicest artifice to the ends which they are intended to produce and in the mechanism of a plant, or animal body, admire how every thing is contrived for advancing the two great purposes of nature, the support of the individual, and the propagation of the species.
Adam Smith