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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
Never
Market
Men
Brought
Like
Demand
Effectual
Poor
Satisfy
Sense
Commodity
Order
Coach
May
Coaches
Might
Six
More quotes by Adam Smith
The property which every man has in his own labour, as it is the original foundation of all other property, so it is the most sacred and inviolable.
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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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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 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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No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.
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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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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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Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.
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There is no art which government sooner learns of another than that of draining money from the pockets of the people.
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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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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.
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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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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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Masters are always and everywhere in a sort of tacit, but constant and uniform combination, not to raise the wages of labor.
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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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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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Humanity is the virtue of a woman, generosity that of a man.
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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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Problems worthy of attacks, prove their worth by hitting back
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We are but one of the multitude, in no respect better than any other in it.
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