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

—  Adam Smith

Source: (1776), Book IV, Chapter I, p. 469.

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "When the profits of trade happen to be greater than ordinary, over-trading becomes a general error both among great and…" by Adam Smith?
Adam Smith photo
Adam Smith175
Scottish moral philosopher and political economist 1723–1790

Related quotes

Adam Smith photo

“When profit diminishes, merchants are very apt to complain that trade decays; though the diminution of profit is the natural effect of its prosperity, or of a greater stock being employed in it than before.”

Adam Smith (1723–1790) Scottish moral philosopher and political economist

Source: (1776), Book I, Chapter IX

Adam Smith photo

“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.”

Adam Smith (1723–1790) Scottish moral philosopher and political economist

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

Adam Smith photo

“A great stock, though with small profits, generally increases faster than a small stock with great profits. Money, says the proverb, makes money. When you have a little, it is often easier to get more. The great difficulty is to get that little.”

Adam Smith (1723–1790) Scottish moral philosopher and political economist

Source: The Wealth of Nations (1776), Book I, Chapter IX, p. 111.

Jean-Baptiste Say photo

“When war becomes a trade, it benefits, like all other trades, from the division of labour.”

Jean-Baptiste Say (1767–1832) French economist and businessman

Source: A Treatise On Political Economy (Fourth Edition) (1832), Book III, On Consumption, Chapter VI, Section II, p. 429

Kevin Kelly photo

“The tricks of the intangible trade will become the tricks of your trade.”

Kevin Kelly (1952) American author and editor

Out of Control: The New Biology of Machines, Social Systems and the Economic World (1995), New Rules for the New Economy: 10 Radical Strategies for a Connected World (1999)

Adam Smith photo

“The interest of the dealers, however, in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public. To widen the market and to narrow the competition, is always the interest of the dealers.”

Adam Smith (1723–1790) Scottish moral philosopher and political economist

Source: (1776), Book I, Chapter XI, Part III, Conclusion of the Chapter, p. 292.

“The small become the great, the great the small;
The right thing happens to the happy man.”

Theodore Roethke book The Far Field

"The Right Thing," ll. 7-9
The Far Field (1964)
Context: God bless the roots! — Body and soul are one!
The small become the great, the great the small;
The right thing happens to the happy man.

“A space of frequency of trade relations among nations.”

James Grier Miller (1916–2002) biologist

Living Systems: Basic Concepts (1969)

Harold Innis photo

“The Canadian government has a closer relation to economic activities than most governments. The trade in staples, which characterizes an economically weak country, to the highly industrialized areas of Europe and latterly the United States, and especially the fur trade, has been responsible for various peculiar tendencies in Canadian development. The maintenance of connections with Europe, at first with France and later with Great Britain has been a result. The diversity of institutions which has attended this relationship has made for greater elasticity in organization and far greater tolerance among her peoples.”

Harold Innis (1894–1952) Canadian professor of political economy

Conclusion, p. 401.
The Fur Trade in Canada (1930)

Didier Sornette photo

“Indeed, the financial world is such that any insight is almost immediately used to trade for a profit.”

Didier Sornette (1957) French scientist

Source: Why Stock Markets Crash - Critical Events in Complex Systems (2003), Chapter 5, Modeling Financial Bubbles And Market Crashes, p. 136.

Related topics