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Great nations are never impoverished by private, though they sometimes are by public prodigality and misconduct.
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
Never
Private
Public
Politics
Nations
Though
Political
Prodigality
Sometimes
Misconduct
Great
Impoverished
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Beneficence is always free, it cannot be extorted by force.
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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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No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.
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With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches.
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The annual labour of every nation is the fund which originally supplies it with all the necessaries and conveniencies of life which it annually consumes, and which consist always either in the immediate produce of that labour, or in what is purchased with that produce from other nations.
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The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgment with which it is anywhere directed, or applied, seem to have been the effects of the division of labour.
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We are but one of the multitude, in no respect better than any other in it.
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In public, as well as in private expences, great wealth may, perhaps, frequently be admitted as an apology for great folly.
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The propensity to truck, barter and exchange one thing for another is common to all men, and to be found in no other race of animals.
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On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.
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The theory that can absorb the greatest number of facts, and persist in doing so, generation after generation, through all changes of opinion and detail, is the one that must rule all observation.
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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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Man, an animal that makes bargains.
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This is one of those cases in which the imagination is baffled by the facts.
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It is unjust that the whole of society should contribute towards an expence of which the benefit is confined to a part of the society.
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It seldom happens, however, that a great proprietor is a great improver.
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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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What can be added to the happiness of the man who is in health, who is out of debt, and has a clear conscience?
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