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Thus the labour of a manufacture adds, generally, to the value of the materials which he works upon, that of his own maintenance, and of his masters profits. The labour of a menial servant, on the contrary, adds to the value of nothing.
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
Materials
Profits
Masters
Labour
Works
Servant
Add
Value
Generally
Menial
Values
Profit
Manufacture
Upon
Contrary
Adds
Nothing
Thus
Maintenance
More quotes by Adam Smith
That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.
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People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
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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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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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The proprietor of stock is necessarily a citizen of the world, and is not necessarily attached to any particular country.
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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.
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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.
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Nobody but a beggar chooses to depend chiefly upon the benevolence of his fellow-citizens.
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We are delighted to find a person who values us as we value ourselves, and distinguishes us from the rest of mankind, with an attention not unlike that with which we distinguish ourselves.
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Beneficence is always free, it cannot be extorted by force.
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I am a beau in nothing but my books.
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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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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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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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Capitals are increased by parsimony, and diminished by prodigalityand misconduct. By what a frugal man annually saves he not onlyaffords maintenance to an additional number of productive hands?but?he establishes as it were a perpetual fund for the maintenance of an equal number in all times to come.
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The annual produce of the land and labour of any nation can be increased in its value by no other means, but by increasing either the number of its productive labourers, or the productive powers of those labourers who had before been employed.
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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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It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.
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Great nations are never impoverished by private, though they sometimes are by public prodigality and misconduct.
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The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities.
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