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Adam Smith was Scottish moral philosopher and political economist. Explore interesting quotes on other.

Adam Smith: 350 quotes6 likes

“Every man, as the Stoics used to say, is first and principally recommended to his own care; and every man is certainly, in every respect, fitter and abler to take care of himself than of any other person. Every man feels his own pleasures and his own pains more sensibly than those of other people. The former are the original sensations; the latter the reflected or sympathetic images of those sensations. The former may be said to be the substance; the latter the shadow.”

Adam Smith book The Theory of Moral Sentiments

Section II, Chap. I.
The Theory of Moral Sentiments (1759), Part VI

“Every man is, no doubt, by nature, first and principally recommended to his own care; and as he is fitter to take care of himself than of any other person, it is fit and right that it should be so.”

Adam Smith book The Theory of Moral Sentiments

Section II, Chap. II.
The Theory of Moral Sentiments (1759), Part II

“The great source of both the misery and disorders of human life, seems to arise from over-rating the difference between one permanent situation and another. Avarice over-rates the difference between poverty and riches: ambition, that between a private and a public station: vain-glory, that between obscurity and extensive reputation. The person under the influence of any of those extravagant passions, is not only miserable in his actual situation, but is often disposed to disturb the peace of society, in order to arrive at that which he so foolishly admires. The slightest observation, however, might satisfy him, that, in all the ordinary situations of human life, a well-disposed mind may be equally calm, equally cheerful, and equally contented. Some of those situations may, no doubt, deserve to be preferred to others: but none of them can deserve to be pursued with that passionate ardour which drives us to violate the rules either of prudence or of justice; or to corrupt the future tranquillity of our minds, either by shame from the remembrance of our own folly, or by remorse from the horror of our own injustice.”

Adam Smith book The Theory of Moral Sentiments

Chap. III.
The Theory of Moral Sentiments (1759), Part III

“Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.”

Source: (1776), Book IV, Chapter I, p. 471.

“Such taxes [upon the necessaries of life], when they have grown up to a certain height, are a curse equal to the barrenness of the earth and the inclemency of the heavens; and yet it is in the richest and most industrious countries that they have been most generally imposed. No other countries could support so great a disorder.”

Source: (1776), Book IV, Chapter II, paragraph 36, p. 500.

“The establishment of any new manufacture, of any new branch of commerce, or any new practice in agriculture, is always a speculation, from which the projector promises himself extraordinary profits. These profits sometimes are very great, and sometimes, more frequently, perhaps, they are quite otherwise; but in general they bear no regular proportion to those of other older trades in the neighbourhood. If the project succeeds, they are commonly at first very high. When the trade or practice becomes thoroughly established and well known, the competition reduces them to the level of other trades.”

Source: (1776), Book I, Chapter X, Part I, p. 136 (tendency of the rate of profit to fall).

“The propensity to truck, barter and exchange one thing for another is common to all men and to be found in no other race of animals”