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The natural price, therefore, is, as it were, the central price, to which the prices of all commodities are continually gravitating.
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
Commodity
Continually
Central
Price
Therefore
Natural
Gravitating
Commodities
Prices
More quotes by Adam Smith
I am always willing to run some hazard of being tedious, in order to be sure that I am perspicuous and, after taking the utmost pains that I can to be perspicuous, some obscurity may still appear to remain upon a subject, in its own nature extremely abstracted.
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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.
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All for ourselves, and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind.
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All money is a matter of belief.
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Humanity is the virtue of a woman, generosity that of a man.
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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.
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The game women play is men.
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Nothing but the most exemplary morals can give dignity to a man of small fortune.
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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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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.
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By pursuing his own interest (the individual) frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good.
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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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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.
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A man must always live by his work, and his wages must at least be sufficient to maintain him. They must even upon most occasions be somewhat more otherwise it would be impossible for him to bring up a family, and the race of such workmen could not last beyond the first generation.
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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.
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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.
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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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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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