“A highway, a bridge, a navigable canal, for example, may in most cases be both made and maintained by a small toll upon the carriages which make use of them: a harbour, by moderate port-duty upon the tonnage of the shipping which load or unload in it. The coinage, another institution for facilitating commerce, in many countries, not only defrays its own expense, but affords a small revenue or seignorage to the sovereign. The post-office, another institution for the same purpose, over and above defraying its own expense, affords in almost all countries a very considerable revenue to the sovereign. When the carriages which pass over a highway or a bridge, and the lighters which sail upon a navigable canal, pay toll in proportion to their weight or their tonnage, they pay for the maintenance of those public works exactly in proportion to the wear and tear which they occasion of them. It seems scarce possible to invent a more equitable way of maintaining such works.”
Quote by Adam Smith
Work
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
You May Also Like
“... why isn't cutting government spending a viable alternative to maintaining high taxes?”
“It (balancing the budget) is like protecting your virtue, you have to learn to say no!”
“If you don't trust the barber you're shaving, your face is more likely to get cut!”
“There is, in fact, no safeword for chemical burns under one’s fingernails.”