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A very poor man may be said in some sense to have a demand for a coach and six he might like to have it but his demand is not an effectual demand, as the commodity can never be brought to market in order to satisfy it.
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
May
Coaches
Might
Six
Never
Market
Men
Brought
Like
Demand
Effectual
Poor
Satisfy
Sense
Commodity
Order
Coach
More quotes by Adam Smith
The proprietor of stock is necessarily a citizen of the world, and is not necessarily attached to any particular country.
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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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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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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 sneaking arts of underling tradesmen are thus erected into political maxims for the conduct of a great empire for it is the most underling tradesmen only who make it a rule to employ chiefly their own customers. A great trader purchases his good always where they are cheapest and best, without regard to any little interest of this kind.
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The division of labour was limited by the extent of the market
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Have lots of experiments, but make sure they're strategically focused.
Adam Smith
By nature a philosopher is not in genius and disposition half so different from a street porter, as a mastiff is from a greyhound
Adam Smith
Good roads, canals, and navigable rivers, by diminishing the expence of carriage, put the remote parts of the country more nearly upon a level with with those of the neighbourhood of the town. They are upon that the greatest of all improvements.
Adam Smith
The great affair, we always find, is to get money.
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Happiness never lays its finger on its pulse.
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Humanity is the virtue of a woman, generosity that of a man.
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Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life.
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To hinder, besides, the farmer from selling his goods at all times to the best market, is evidently to sacrifice the ordinary laws of justice to an idea of public utility, to a sort of reasons of state an act of legislative authority which ought to be exercised only, which can be pardoned only in cases of the most urgent necessity.
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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.
Adam Smith
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.
Adam Smith
Virtue is more to be feared than vice, because its excesses are not subject to the regulation of conscience.
Adam Smith
Masters are always and everywhere in a sort of tacit, but constant and uniform combination, not to raise the wages of labor.
Adam Smith
With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches.
Adam Smith
In ease of body, peace of mind, all the different ranks of life are nearly upon a level and the beggar who suns himself by the side of the highway, possesses that security which kings are fighting for.
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