"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
Philosopher, Economist
Adam Smith was an 18th-century economist known for his influential work, 'The Wealth of Nations,' which laid the groundwork for modern economic theory.
- Born
- June 16, 1723
- Died
- July 17, 1790
- Quotes
- 204
- Rank
- #3653
Quote collection
Adam Smith quotes (page 6 of 11)
204 quotes — follow a thought to its full quote page.
"It is not for its own sake that men desire money, but for the sake of what they can purchase with it."
"The man whose whole life is spent in performing a few simple operations, of which the effects are perhaps always the same, or very nearly the same, has no occasion to exert his understanding or to exercise his invention in finding out expedients for removing difficulties which never occur. He naturally loses, therefore, the habit of such exertion, and generally becomes as stupid and ignorant as it is possible for a human creature to become."
"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."
"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."
"It must always be remembered, however, that it is the luxuries, and not the necessary expense of the inferior ranks of people, that ought ever to be taxed."
"Labor was the first price, the original purchase - money that was paid for all things."
"The cheapness of wine seems to be a cause, not of drunkenness, but of sobriety. ...People are seldom guilty of excess in what is their daily fare... On the contrary, in the countries which, either from excessive heat or cold, produce no grapes, and where wine consequently is dear and a rarity, drunkenness is a common vice."
"The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."
"Every individual necessarily labors to render the annual revenue of society as great as he can. He generally neither intends to promote the public interest, nor knows how much he is promoting it. He intends only his own gain, and he is, in this, as in many other cases, led by an invisible hand to promote an end which was not part of his intention."
"A sketch of a man facing to the right."
"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."
"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."
"Nothing but the most exemplary morals can give dignity to a man of small fortune."
"Nobody ever saw a dog make a fair and deliberate exchange of one bone for another with another dog."
"The education of the common people requires, perhaps, in a civilized and commercial society, the attention of the public more than that of people of some rank and fortune."
"A true party-man hates and despises candour."
"When profit diminishes, merchants are very apt to complain that trade decays; though the diminution of profit is the natural effect of its prosperity, or of a greater stock being employed in it than before."
"A gardener who cultivates his own garden with his own hands, unites in his own person the three different characters, of landlord, farmer, and labourer. His produce, therefore, should pay him the rent of the first, the profit of the second, and the wages of the third."
"It seldom happens, however, that a great proprietor is a great improver."