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Quote by Adam Smith

“A very poor man may be said in some sense to have a demand for a coach and six; he might like to have it; but his demand is not an effectual demand, as the commodity can never be brought to market in order to satisfy it.”

Quote by Adam Smith

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

Work

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

This classic text delves into the principles of economics, analyzing the production, distribution, and consumption of goods and services, and their impact on economic growth and societal welfare. more

Author

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. more

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

Natural Commodity Wealth Of Nations

Book:The Wealth of Nations: the Great Master

Source: The Wealth of Nations: the Great Master

“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.”

Believe Ends Done Age I Believe Nations Slave Cheaper Work Done Freeman Wealth Of Nations

Book:Wealth of Nations (Abridged)

Source: Wealth of Nations (Abridged)

“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.”

Causes Wealth Effects Rewards Population Prosperity Complaining Labour Lament

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

“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

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

Country Europe China 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

“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.”

Values Materials Masters Add Profit Contrary Servant Labour Maintenance

Book:The Wealth of Nations: An Inquiry Into the Nature and Causes of the Wealth of Nations: With an introduction by Jonathan B. Wight, University of Richmond

Source: The Wealth of Nations: An Inquiry Into the Nature and Causes of the Wealth of Nations: With an introduction by Jonathan B. Wight, University of Richmond

“The annual produce of the land and labour of any nation can be increased in its value by no other means, but by increasing either the number of its productive labourers, or the productive powers of those labourers who had before been employed.”

Mean Values Nations Numbers Land Produce Productive Labour Employed Annuals Labourers

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

“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.”

Government Able Natural Wealth Progress England Improvement Retarded

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

“The great affair, we always find, is to get money.”

Affair Get Money

Book:The Wealth of Nations: the Great Master

Source: The Wealth of Nations: the Great Master

“When the profits of trade happen to be greater than ordinary, over-trading becomes a general error both among great and small dealers.”

Happens Greater Ordinary Trade Errors Profit Trading Dealer

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