Adam Smith

Adam Smith

English economist and philosopher
The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with most unnecessary attention but assume an authority which could safely be trusted to no council and senate whatever, and which would nowhere be so dangerous as in the hands of man who have folly and presumption enough to fancy himself fit to exercise it.More Adam Smith quotes [03/29/2018 05:03:36]
On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.More Adam Smith quotes [03/29/2018 05:03:36]
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.More Adam Smith quotes [03/29/2018 05:03:36]
In regards to the price of commodities, the rise of wages operates as simple interest does, the rise of profit operates like compound interest. Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. 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.More Adam Smith quotes [03/29/2018 05:03:36]
Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer.More Adam Smith quotes [07/05/2011 11:07:10]

Quotes of the month

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