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 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

“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.”

People Ifs Should May Done Philosophy Political Pay Half Doubt Arms Taxes Equal Economics Thirds Abuse Substance No Doubt Gross

Author:Adam Smith

“No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable. It is but equity, besides, that they who feed, clothe and lodge the whole body of the people, should have such a share of the produce of their own labour as to be themselves tolerably well fed, clothed and lodged.”

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

“As we have no immediate experience of what other men feel, we can form no idea of the manner in which they are affected, but by conceiving what we ourselves should feel in the like situation.”

Men Feels Should Ideas Form Situation Empathy No Idea Affected Conceiving

Book:Adam Smith: Selected Philosophical Writings

Source: Adam Smith: Selected Philosophical Writings

“That this is the source of our fellow-feeling for the misery of others, that it is by changing places in fancy with the sufferer, that we come either to conceive or to be affected by what he feels, may be demonstrated by many obvious observations, if it should not be thought sufficiently evident of itself. When we see a stroke aimed and just ready to fall upon the leg or arm of another person, we naturally shrink and draw back our own leg or our own arm; and when it does fall, we feel it in some measure, and are hurt by it as well as the sufferer.”

Source: The Essays on Philosophical Subjects: the Great Master

“The directors of such companies, however, being the managers rather of other people's money than of their own, it cannot well be expected, that they should watch over it with the same anxious vigilance with which the partners in a private copartnery frequently watch over their own.... Negligence and profusion, therefore, must always prevail, more or less, in the management of the affairs of such a company.”

People Should Wells Company Watches Directors Management Affair Expected Partners Managers Over It Anxious Vigilance Negligence

Author:Adam Smith

“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 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.”

Men Should May Helping Oil Meat Diets Vegetables Milk Grain Cheese Decency Vegetarianism Doubted Butchers Invigorating Plentiful

Book:An Inquiry into the Nature and Causes of the Wealth of Nations, Volume 2

Source: An Inquiry into the Nature and Causes of the Wealth of Nations, Volume 2

“A gardener who cultivates his own garden with his own hands, unites in his own person the three different characters, of landlord, farmer, and labourer. His produce, therefore, should pay him the rent of the first, the profit of the second, and the wages of the third.”

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

“It is unjust that the whole of society should contribute towards an expence of which the benefit is confined to a part of the society.”

Should Whole Benefits Unjust Confined

Book:An Inqury Into the Nature and Causes of the Wealth of Nations

Source: An Inqury Into the Nature and Causes of the Wealth of Nations

“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.”

Should Seems Able Company Fairs Trade Competition Contrary Branches Joints Adventurer Foreign Trade Joint Stock Company

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

“To expect, indeed, that the freedom of trade should ever be entirely restored in Great Britain, is as absurd as to expect that an Oceana or Utopia should never be established in it.”

Should Trade Absurd Britain Utopia Great Britain

Book:An Inquiry Into the Nature and Causes of the Wealth of Nations: With Notes, and an Additional Volume

Source: An Inquiry Into the Nature and Causes of the Wealth of Nations: With Notes, and an Additional Volume

“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

“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.”

Source: The Wealth of Nations: Representative Selections