Adam Smith Quotes

Philosopher

Adam Smith, a renowned philosopher and economist from Britain, was born on June 5, 1723, and died on July 17, 1790. Known as the father of modern economics, his work 'The Wealth of Nations' had a profound impact on the development of economics.

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Famous Adam Smith Quotes

“The disposition to admire, and almost to worship, the rich and the powerful, and to despise, or, at least, to neglect persons of poor and mean condition is the great and most universal cause of the corruption of our moral sentiments.”

Mean Persons Causes Wealth Poor Powerful Moral Rich Conditions Worship Universal Corruption Admire Inequality Neglect Sentiments Despise Disposition

Book:The Theory of Moral Sentiments

Source: The Theory of Moral Sentiments

“Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life.”

Men Humans Enjoy Wealth Poor Money Rich Degrees Every Man Human Life Amusement Convenience Rich Or Poor

Book:An inquiry into the nature and causes of the wealth of nations

Source: An inquiry into the nature and causes of the wealth of nations

“The rate of profit... is naturally low in rich and high in poor countries, and it is always highest in the countries which are going fastest to ruin.”

Country Poor Rich Highest Lows Economics Rate Profit Ruins Poor Countries

Author:Adam Smith

“The subjects of every state ought to contribute toward the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state ....As Henry Home (Lord Kames) has written, a goal of taxation should be to 'remedy inequality of riches as much as possible, by relieving the poor and burdening the rich.'”

Should States Home Government Enjoy Goal Ability Poor Lord Support Rich Written Subjects Ought Economics Protection Libertarian Riches Inequality Proportion Remedy Taxation Revenue

Author:Adam Smith

“But avarice and ambition in the rich, in the poor the hatred of labour and the love of present ease and enjoyment, are the passions which prompt to invade property, passions much more steady in their operation, and much more universal in their influence. Wherever there is great property there is great inequality. For one very rich man there must be at least five hundred poor, and the affluence of the few supposes the indigence of the many.”

Rich Easier Capitalism Harder Property Inequality Making Money More Money Affluence

Book:Aninquiry in to the Nature and Causes of the Wealth of Nations: With a Life of the Author, an Introductory Discourse, Notes, and Supplemental Dissertations by J.R. McCulloch

Source: Aninquiry in to the Nature and Causes of the Wealth of Nations: With a Life of the Author, an Introductory Discourse, Notes, and Supplemental Dissertations by J.R. McCulloch

“A criminal is a person with predatory instincts who has not sufficient capital to form a corporation.Most government is by the rich for the rich. Government comprises a large part of the organized injustice in any society, ancient or modern.Civil government, insofar as it is instituted for the security of property, is in reality instituted for the defence of the rich against the poor, and for the defence of those who have property against those who have none.”

Persons Reality Government Form Poor Rich Modern Security Capitalism Property Instinct Injustice Ancient Criminals Corporations Sufficient Organized Defence Predatory

Author:Adam Smith

“When the toll upon carriages of luxury, upon coaches, post-chaises, etc. is made somewhat higher in proportion to their weight, than upon carriages of necessary use, such as carts, wagons, etc. the indolence and vanity of the rich is made to contribute in a very easy manner to the relief of the poor, by rendering cheaper the transportation of heavy goods to all the different parts of the country.”

Source: An inquiry into the nature and causes of the wealth of nations

“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.”

Should Littles House Difficult Poor Rich Greater Advantage Luxury Vanity Occasions Proportion Expenses Principal Magnificent Taxation Revenue Unreasonable Progressive Taxation

Author:Adam Smith

“It is not the actual greatness of national wealth, but its continual increase, which occasions a rise in the wages of labour. It is not, accordingly, in the richest countries, but in the most thriving, or in those which are growing rich the fastest, that the wages of labour are highest. England is certainly, in the present times, a much richer country than any part of North America. The wages of labour, however, are much higher in North America than in any part of England.”

Country America Wealth Rich Growing Greatness Higher Highest Increase England Occasions Labour Wages Minimum Wage North America Present Time Living Wage

Book:Wealth of Nations (Abridged)

Source: Wealth of Nations (Abridged)

“With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches, which in their eye is never so complete as when they appear to possess those decisive marks of opulence which nobody can possess but themselves.”

People Eye Rich Greater Mark Riches Chiefs Enjoyment Rich People Parades Opulence

Author:Adam Smith

“Ask any rich man of common prudence to which of the two sorts of people he has lent the greater part of his stock, to those who, he thinks, will employ it profitably, or to those who will spend it idly, and he will laugh at you for proposing the question.”

People Thinking Men Two Asks Politics Common Laughing Economy Rich Greater Liberalism Prudence Rich Man

Book:An Inquiry Into the Nature and Causes of the Wealth of Nations With a Life of the Author: Also a View of the Doctrine of Smith, Compared with that of the French Economists, with a Method of Facilitating the Study of His Works, from the French of M. Jariner

Source: An Inquiry Into the Nature and Causes of the Wealth of Nations With a Life of the Author: Also a View of the Doctrine of Smith, Compared with that of the French Economists, with a Method of Facilitating the Study of His Works, from the French of M. Jariner

“With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches.”

People Life Success Rich Greater Riches Chiefs Enjoyment Rich People Parades Opulence

Author:Adam Smith

“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.”

Should Rich Capitalism Economics Proportion Expenses Taxation Revenue Unreasonable Wealth Of Nations Progressive Taxation

Book:An inquiry into the nature and causes of the wealth of nations

Source: An inquiry into the nature and causes of the wealth of nations

“Civil government, so far as it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all.”

Reality Government Poor Economy Rich Security Property Defense Libertarian Individualism Wealth Of Nations

Book:An inquiry into the nature and causes of the wealth of nations

Source: An inquiry into the nature and causes of the wealth of nations

“Wherever there is great property there is great inequality. For one very rich man there must be at least five hundred poor, and the affluence of the few supposes the indigence of the many. The affluence of the rich excites the indignation of the poor, who are often both driven by want, and prompted by envy, to invade his possessions.”

Men Want Poor Rich Five Hundred Property Possession Envy Driven Inequality Rich Man Indignation Affluence

Book:An inquiry into the nature and causes of the wealth of nations

Source: An inquiry into the nature and causes of the wealth of nations