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Nobody ever saw a dog make a fair and deliberate exchange of one bone for another with another dog.
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
Economics
Fair
Dog
Saws
Bone
Nobody
Deliberate
Another
Exchange
Ever
Bones
Make
Fairs
More quotes by Adam Smith
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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Poor David Hume is dying fast, but with more real cheerfulness and good humor and with more real resignation to the necessary course of things, than any whining Christian ever dyed with pretended resignation to the will of God.
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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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China is a much richer country than any part of Europe.
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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.
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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.
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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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Man, an animal that makes bargains.
Adam Smith
Never complain of that of which it is at all times in your power to rid yourself.
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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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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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All registers which, it is acknowledged, ought to be kept secret, ought certainly never to exist.
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He is led by an invisible hand to promote an end which was no part of his intention
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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.
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Wherever there is great property there is great inequality. For one very rich man there must be at least five hundred poor, and the affluence of the few supposes the indigence of the many. The affluence of the rich excites the indignation of the poor, who are often both driven by want, and prompted by envy, to invade his possessions.
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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.
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The interest of the dealers, however, in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public. To widen the market and to narrow the competition, is always the interest of the dealers.
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Defense is superior to opulence.
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It seldom happens, however, that a great proprietor is a great improver.
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