Adam Smith (Economist)

#202366 Adam Smith

The real tragedy of the poor is the poverty of their aspirations. .

Adam Smith Quotes about poverty
#347057 Adam Smith

The virtue of frugality lies in a middle between avarice and profusion, of which the one consists in an excess, the other in a defect of the proper attention to the objects of self–interest.Section II, Chap. I. .

Adam Smith Quotes about self
#347163 Adam Smith

It may indeed be doubted, whether butchers meat is any where a necessary of life. Grain and other vegetables, with the help of milk, cheese, and butter, or oil, where butter is not to be had, it is known from experience, can, without any butchers meat, afford the most plentiful, the most wholesome, the most nourishing, and the most invigorating diet.Chapter II, Part II, Appendix to Articles I and II. .

Adam Smith Quotes about life
#347088 Adam Smith

The establishment of any new manufacture, of any new branch of commerce, or any new practice in agriculture, is always a speculation, from which the projector promises himself extraordinary profits. These profits sometimes are very great, and sometimes, more frequently, perhaps, they are quite otherwise; but in general they bear no regular proportion to those of other older trades in the neighbourhood. If the project succeeds, they are commonly at first very high. When the trade or practice becomes thoroughly established and well known, the competition reduces them to the level of other trades.Chapter X, Part I, p. 136 tendency of the rate of profit to fall. .

Adam Smith Quotes about time
#347101 Adam Smith

A man must be perfectly crazy who, where there is tolerable security, does not employ all the stock which he commands,Chapter I, p. 313 see opportunity cost. .

Adam Smith Quotes about man
#347105 Adam Smith

It is the highest impertinence and presumption, therefore, in kings and ministers, to pretend to watch over the economy of private people, and to restrain their expence, either by sumptuary laws, or by prohibiting the importation of foreign luxuries. They are themselves always, and without any exception, the greatest spendthrifts in the society. Let them look well after their own expence, and they may safely trust private people with theirs. If their own extravagance does not ruin the state, that of their subjects never will.Chapter III, p. 381. .

Adam Smith Quotes about people
#347081 Adam Smith

Oatmeal indeed supplies the common people of Scotland with the greatest and best part of their food, which is in general much inferior to that of their neighbours of the same rank in England.Chapter VIII, p. 91 Oatmeal in England makes for great horses, in Scotland Great Men. .

Adam Smith Quotes about art
#347133 Adam Smith

Of all those expensive and uncertain projects, however, which bring bankruptcy upon the greater part of the people who engage in in them, there is none perhaps more perfectly ruinous than the search after new silver and gold mines. It is perhaps the most disadvantageous lottery in the world, or the one in which the gain of those who draw the prizes bears the least proportion to the loss of those who draw the blanks: for though the prizes are few and the blanks are many, the common price of a ticket is the whole fortune of a very rich man.Chapter VII, Part First, p. 610. .

Adam Smith Quotes about art
#347146 Adam Smith

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.Chapter I, Part III, p. 821. .

Adam Smith Quotes about art
#347054 Adam Smith

Every man, as the Stoics used to say, is first and principally recommended to his own care; and every man is certainly, in every respect, fitter and abler to take care of himself than of any other person. Every man feels his own pleasures and his own pains more sensibly than those of other people. The former are the original sensations; the latter the reflected or sympathetic images of those sensations. The former may be said to be the substance; the latter the shadow.Section II, Chap. I. .

Adam Smith Quotes about pain
#347149 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.Chapter I, Part III, Article II, p. 847. .

Adam Smith Quotes about education
#347093 Adam Smith

Good roads, canals, and navigable rivers, by diminishing the expence of carriage, put the remote parts of the country more nearly upon a level with with those of the neighbourhood of the town. They are upon that the greatest of all improvements.Chapter XI, Part I, p. 174. .

Adam Smith Quotes about art
#347100 Adam Smith

His capital is continually going from him in one shape, and returning to him in another, and it is only by means of such circulation, or successive exchanges, that it can yield him any profit. Such capitals, therefore, may very properly be called circulating capitals.Chapter I, p. 305. .

Adam Smith Quotes about success
#347052 Adam Smith

In ease of body and peace of mind, all the different ranks of life are nearly upon a level, and the beggar, who suns himself by the side of the highway, possesses that security which kings are fighting for.Chap. I. .

Adam Smith Quotes about life
#347047 Adam Smith

In every part of the universe we observe means adjusted with the nicest artifice to the ends which they are intended to produce; and in the mechanism of a plant, or animal body, admire how every thing is contrived for advancing the two great purposes of nature, the support of the individual, and the propagation of the species.Section II, Chap. III. .

Adam Smith Quotes about art
#347075 Adam Smith

In the long-run the workman may be as necessary to his master as his master is to him, but the necessity is not so immediate.Chapter VIII, p. 80. .

Adam Smith Quotes about work
#347144 Adam Smith

That a joint stock company should be able to carry on successfully any branch of foreign trade, when private adventurers can come into any sort of open and fair competition with them, seems contrary to all experience.Chapter I, Part III, Article I, p. 810. .

Adam Smith Quotes about success
#347103 Adam Smith

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.Chapter III, p. 377. .

Adam Smith Quotes about power
#347126 Adam Smith

The violence and injustice of the rulers of mankind is an ancient evil, for which, I am afraid, the nature of human affairs can scarce admit a remedy.Chapter III, Part II, p. 531. .

Adam Smith Quotes about art
#347053 Adam Smith

There is not a negro from the coast of Africa who does not, in this respect, possess a degree of magnanimity which the soul of his sordid master is too often scarce capable of conceiving. Fortune never exerted more cruelly her empire over mankind, than when she subjected those nations of heroes to the refuse of the jails of Europe, to wretches who possess the virtues neither of the countries which they come from, nor of those which they go to, and whose levity, brutality, and baseness, so justly expose them to the contempt of the vanquished.Chap. II. .

Adam Smith Quotes about soul
#347104 Adam Smith

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.Chapter III. .

Adam Smith Quotes about men
#347132 Adam Smith

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.Chapter V, p. 584. .

Adam Smith Quotes about time

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