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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
Sense
Commodity
Order
Coach
May
Coaches
Might
Six
Never
Market
Men
Brought
Like
Demand
Effectual
Poor
Satisfy
More quotes by Adam Smith
Civil government, so far as it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all.
Adam Smith
The retinue of a grandee in China or Indostan accordingly is, by all accounts, much more numerous and splendid than that of the richest subjects of Europe.
Adam Smith
An English university is a sanctuary in which exploded systems and obsolete prejudices find shelter and protection after they have been . hunted out of every corner of the world.
Adam Smith
The man of system is apt to be very wise in his own conceit. In the great chess board of human society, every single piece has a principle of motion of its own altogether different from that which the legislature might choose to impress upon it
Adam Smith
To found a great empire for the sole purpose of raising up a people of customers, may at first sight appear a project fit only for a nation of shopkeepers. It is, however, a project altogether unfit for a nation of shopkeepers but extremely fit for a nation whose government is influenced by shopkeepers.
Adam Smith
That wealth and greatness are often regarded with the respect and admiration which are due only to wisdom and virtue and that the contempt, of which vice and folly are the only proper objects, is most often unjustly bestowed upon poverty and weakness, has been the complaint of moralists in all ages.
Adam Smith
Corn is a necessary, silver is only a superfluity.
Adam Smith
It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
Adam Smith
In general, if any branch of trade, or any division of labour, be advantageous to the public, the freer and more general the competition, it will always be the more so.
Adam Smith
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.
Adam Smith
The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.
Adam Smith
Labour was the first price, the original purchase - money that was paid for all things. It was not by gold or by silver, but by labour, that all wealth of the world was originally purchased.
Adam Smith
Every man lives by exchanging.
Adam Smith
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.
Adam Smith
The problem with fiat money is that it rewards the minority that can handle money, but fools the generation that has worked and saved money.
Adam Smith
A power to dispose of estates for ever is manifestly absurd. The earth and the fulness of it belongs to every generation, and the preceding one can have no right to bind it up from posterity. Such extension of property is quite unnatural.
Adam Smith
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.
Adam Smith
Happiness never lays its finger on its pulse.
Adam Smith
Every faculty in one man is the measure by which he judges of the like faculty in another. I judge of your sight by my sight, of your ear by my ear, of your reason by my reason, of your resentment by my resentment, of your love by my love. I neither have, nor can have, any other way of judging about them.
Adam Smith
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.
Adam Smith
