Labour was the first price, the original purchase - money that was paid for all things. It was not by gold or by silver, but by labour, that all wealth of the world was originally purchased. Adam Smith More Quotes by Adam Smith More Quotes From Adam Smith The problem with fiat money is that it rewards the minority that can handle money, but fools the generation that has worked and saved money. Adam Smith rewards minorities fool The division of labour was limited by the extent of the market Adam Smith economics labour division The world neither ever saw, nor ever will see, a perfectly fair lottery. Adam Smith fairs saws world He is led by an invisible hand to promote an end which was no part of his intention Adam Smith invisible-hand ignorance hands A power to dispose of estates for ever is manifestly absurd. The earth and the fulness of it belongs to every generation, and the preceding one can have no right to bind it up from posterity. Such extension of property is quite unnatural. Adam Smith absurd generations earth There is no art which government sooner learns of another than that of draining money from the pockets of the people. Adam Smith government people art Man naturally desires, not only to be loved, but to be lovely; or to be that thing which is the natural and proper object of love. Adam Smith lovely desire men 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 expense. They are themselves, always, and without any exception, the greatest spendthrifts in the society. Adam Smith invisible-hand kings people Corn is a necessary, silver is only a superfluity. Adam Smith silver corn Every tax ought to be so 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. Adam Smith pockets littles people It appears, accordingly, from the experience of all ages and nations, I believe, that the work done by freemen comes cheaper in the end than that performed by slaves. Adam Smith done age believe As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce. Adam Smith economic-inequality men country It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country. Adam Smith banking economy country The interest of the dealers, however, in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public. To widen the market and to narrow the competition, is always the interest of the dealers. Adam Smith competition different opposites It would be too ridiculous to go about seriously to prove that wealth does not consist in money, or in gold and silver; but in what money purchases, and is valuable only for purchasing. Money no doubt, makes always a part of the national capital; but it has already been shown that it generally makes but a small part, and always the most unprofitable part of it. Adam Smith gold doubt doe 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. Adam Smith libertarian age people The natural effort of every individual to better his own condition is so powerful that it is alone, and without any assistance, capable not only of carrying on the society to wealth and prosperity, but of surmounting 100 impertinent obstructions with which the folly of human laws too often encumbers its operations. Adam Smith effort powerful law In ease of body, 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. Adam Smith fighting kings mind A true party-man hates and despises candour. Adam Smith party hate men The discipline of colleges and universities is in general contrived, not for the benefit of the students, but for the interest, or more properly speaking, for the ease of the masters. Its object is, in all cases, to maintain the authority of the master, and whether he neglects or performs his duty, to oblige the students in all cases to behave toward him as if he performed it with the greatest diligence and ability. Adam Smith benefits discipline college
