Adam Smith Quotes
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To found a great empire for the sole purpose of raising up a people of customers, may at first 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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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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Such taxes upon the necessaries of life, when they have grown up to a certain height, are a curse equal to the barrenness of the earth and the inclemency of the heavens; and yet it is in the richest and most industrious countries that they have been most generally imposed. No other countries could support so great a disorder.
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The sneaking arts of underling tradesmen are thus erected into political maxims for the conduct of a great empire; for it is the most underling tradesmen only who make it a rule to employ chiefly their own customers. A great trader purchases his good always where they are cheapest and best, without regard to any little interest of this kind.
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But bounty and hospitality very seldom lead to extravagance; though vanity almost always does.
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The importation of gold and silver is not the principal, much less the sole benefit which a nation derives from its foreign trade.
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In reality, during the continuance of any one regulated proportion, between the respective values of the different values of the different metals in the coin, the value of the most precious metal regulates the value of the whole coin.
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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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Though the profusion of Government must undoubtedly have retarded the natural progress of England to wealth and improvement, it has not been able to stop it.
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The trade of insurance gives great security to the fortunes of private people, and by dividing among a great many that loss which would ruin an individual, makes it fall light and easy upon the whole society.
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The act of navigation is not favourable to foreign commerce, or to the growth of that opulence which can arise from it. ... As defence, however, is of much more importance than opulence, the act of navigation is, perhaps, the wisest of all the commercial regulations of England.
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The tolls for the maintenance of a high road, cannot with any safety be made the property of private persons.
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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.
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This disposition to admire, and almost to worship, the rich and powerful, and to despise or, at least, neglect persons of poor and mean conditions, though necessary both to establish and to maintain the distinction of ranks and the order of society, is, at the same time, the great and most universal cause of the corruption of our moral sentiments.
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Marriage is encouraged in China, not by the profitableness of children, but by the liberty of destroying them.
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What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.
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IV. Every tax ought to be 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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III. Every tax ought to be levied at the time, or in the manner, in which it is most likely to be convenient for the contributor to pay it.
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Our merchants and master-manufacturers complain much of the bad effects of high wages in raising the price, and thereby lessening the sale of their goods both at home and abroad. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.
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the competition of the poor takes away from the reward of the rich.
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Hatred and anger are the greatest poison to the happiness of a good mind.
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The value of money is in proportion to the quantity of the necessaries of life which it will purchase.
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In England, and in all Roman Catholic countries, the lottery of the church is in reality much more advantageous than is necessary.
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No fixed capital can yield any revenue but by means of a circulating capital.