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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
Value
Add
Values
Generally
Menial
Upon
Profit
Manufacture
Nothing
Contrary
Adds
Thus
Maintenance
Materials
Profits
Masters
Labour
Works
Servant
More quotes by Adam Smith
With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches.
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.
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The principle which prompts to save is the desire of bettering our conditiona desire which?comes with us from the womb and never leaves us till we go into the grave.
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In this consists the difference between the character of a miser and that of a person of exact economy and assiduity. The one is anxious about small matters for their own sake the other attends to them only in consequence of the scheme of life which he has laid down to himself.
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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.
Adam Smith
Beneficence is always free, it cannot be extorted by force.
Adam Smith
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.
Adam Smith
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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When the profits of trade happen to be greater than ordinary, over-trading becomes a general error both among great and small dealers.
Adam Smith
It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.
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.
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With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches, which in their eye is never so complete as when they appear to possess those decisive marks of opulence which nobody can possess but themselves.
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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.
Adam Smith
On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.
Adam Smith
For a very small expence the public can facilitate, can encourage, and can even impose upon almost the whole body of the people, the necessity of acquiring those most essential parts of education.
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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 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.
Adam Smith
Avarice and injustice are always shortsighted, and they did not foresee how much this regulation must obstruct improvement, and thereby hurt in the long-run the real interest of the landlord.
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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 great secret of education is to direct vanity to proper objects.
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