Top 206 Quotes & Sayings by Adam Smith - Page 4

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.

The retinue of a grandee in China or Indostan accordingly is, by all accounts, much more numerous and splendid than that of the richest subjects of Europe.

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.

Though the principles of the banking trade may appear somewhat abstruse, the practice is capable of being reduced to strict rules. To depart upon any occasion from those rules, is consequence of some flattering speculation of extraordinary gain, is almost always extremely dangerous, and frequently fatal to the banking company which attempts it.

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.

Both ground- rents and the ordinary rent of land are a species of revenue which the owner, in many cases, enjoys without any care or attention of his own. The annual produce of the land and labour of the society, the real wealth and revenue of the great body of the people, might be the same after such a tax as before. Ground-rents, and the ordinary rent of land are, therefore, perhaps the species of revenue which can best bear to have a peculiar tax imposed upon them.

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.

The emotions of the spectator will still be very apt to fall short of the violence of what is felt by the sufferer. Mankind, though naturally sympathetic, never conceive, for what has befallen another, that degree of passion which naturally animates the person principally concerned.

The liberal reward of labour, therefore, as it is the affect of increasing wealth, so it is the cause of increasing population. To complain of it, is to lament over the necessary effect and cause of the greatest public prosperity.

China is a much richer country than any part of Europe.

The importation of gold and silver is not the principal, much less the sole benefit which a nation derives from its foreign trade.

It may indeed be doubted whether butchers' meet is anywhere 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, afford the most plentiful, the most wholesome, the most nourishing, and the most invigorating diet. Decency nowhere requires that any man should eat butchers' meat.

Masters are always and everywhere in a sort of tacit, but constant and uniform combination, not to raise the wages of labor.

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.

I am always willing to run some hazard of being tedious, in order to be sure that I am perspicuous; and, after taking the utmost pains that I can to be perspicuous, some obscurity may still appear to remain upon a subject, in its own nature extremely abstracted.

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.

The principle which prompts to save is the desire of bettering our conditiona desire which?comes with us from the womb and never leaves us till we go into the grave.

Now many such things may be done without intitling the people to rise in arms. A gross, flagrant, and palpable abuse no doubt will do it, as if they should be required to pay a tax equal to half or third of their substance.

When we have read a book or poem so often that we can no longer find any amusement in reading it by ourselves, we can still take pleasure in reading it to a companion. To him it has all the graces of novelty.

The natural price, therefore, is, as it were, the central price, to which the prices of all commodities are continually gravitating.

Avarice and injustice are always shortsighted, and they did not foresee how much this regulation must obstruct improvement, and thereby hurt in the long-run the real interest of the landlord.

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.

To found a great empire for the sole purpose of raising up a people of customers, may at first sight 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.

Whenever the legislature attempts to regulate differences between masters and their workmen, its counsellors are always the masters. When the regulation, therefore, is in favor of the workmen, it is always just and equitable; but it is sometimes otherwise when in favor of the masters.

Men of the most robust make, observe that in looking upon sore eyes they often feel a very sensible soreness in their own, which proceeds from the same reason; that organ being in the strongest man more delicate, than any other part of the body is in the weakest.

In public, as well as in private expences, great wealth may, perhaps, frequently be admitted as an apology for great folly.