Adam Smith (1723–1790) Scottish moral philosopher and political economist
Source: (1776), Book IV, Chapter II, p. 490.
“In public, as well as in private expences, great wealth may, perhaps, frequently be admitted as an apology for great folly.”
Source: (1776), Book IV, Chapter V, p. 563.
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Scottish moral philosopher and political economist 1723–1790Related quotes
Roy Jenkins (1920–2003) British politician, historian and writer
Pursuit of Progress (Heinemann, 1953), p. 96
1950s
Adam Smith (1723–1790) Scottish moral philosopher and political economist
Source: (1776), Book II, Chapter III, p. 381.
“I owe a great deal of my public and private life to my Nonconformist ancestry.”
Stanley Baldwin (1867–1947) Former Prime Minister of the United Kingdom
Speech to the Nonconformist Unionist League (8 April 1924), quoted in On England, and Other Addresses (1926), p. 269.
1924
Charles Grey, 2nd Earl Grey (1764–1845) Prime Minister of the United Kingdom of Great Britain and Ireland
Letter to Princess Lieven (18 August 1828), reprinted in Guy Le Strange (ed.), Correspondence of Princess Lieven and Earl Grey. Volume I: 1824 to 1830 (London: Richard Bentley and Son, 1890), p. 130.
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“Common wealth is in the process of being transferred from the public domain to the private sector.”
David McNally (1953) Canadian political scientist
Source: Another World Is Possible : Globalization and Anti-capitalism (2002), Chapter 3, The Invisible Hand Is A Closed Fist, p. 70
“With great wealth comes great pettiness.”
Paul Krugman (1953) American economist
Warren Versus the Petty Plutocrats https://www.nytimes.com/2019/09/30/opinion/elizabeth-warren-wealth-tax.html (September 30, 2019) <br class="br">The New York Times Columns
“Great wealth breeds great arrogance.”
Sheri S. Tepper (1929–2016) American fiction writer
Source: The Margarets (2007), Chapter 14, “I Am Margaret/On Earth” (p. 115)
Franklin D. Roosevelt (1882–1945) 32nd President of the United States
1930s, State of the Union Address (1935)
Context: We find our population suffering from old inequalities, little changed by vast sporadic remedies. In spite of our efforts and in spite of our talk, we have not weeded out the over privileged and we have not effectively lifted up the underprivileged. Both of these manifestations of injustice have retarded happiness. No wise man has any intention of destroying what is known as the profit motive; because by the profit motive we mean the right by work to earn a decent livelihood for ourselves and for our families.
We have, however, a clear mandate from the people, that Americans must forswear that conception of the acquisition of wealth which, through excessive profits, creates undue private power over private affairs and, to our misfortune, over public affairs as well. In building toward this end we do not destroy ambition, nor do we seek to divide our wealth into equal shares on stated occasions. We continue to recognize the greater ability of some to earn more than others. But we do assert that the ambition of the individual to obtain for him and his a proper security, a reasonable leisure, and a decent living throughout life, is an ambition to be preferred to the appetite for great wealth and great power.