“Of all those expensive and uncertain projects, however, which bring bankruptcy upon the greater part of the people who engage in in them, there is none perhaps more perfectly ruinous than the search after new silver and gold mines. It is perhaps the most disadvantageous lottery in the world, or the one in which the gain of those who draw the prizes bears the least proportion to the loss of those who draw the blanks: for though the prizes are few and the blanks are many, the common price of a ticket is the whole fortune of a very rich man.”

—  Adam Smith

Source: (1776), Book IV, Chapter VII, Part First, p. 610.

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 "Of all those expensive and uncertain projects, however, which bring bankruptcy upon the greater part of the people who …" by Adam Smith?
Adam Smith photo
Adam Smith 175
Scottish moral philosopher and political economist 1723–1790

Related quotes

Marie Curie photo

“I am one of those who think like Nobel, that humanity will draw more good than evil from new discoveries.”

Marie Curie (1867–1934) French-Polish physicist and chemist

As quoted in White Coat Tales : Medicine's Heroes, Heritage and Misadventures‎ (2007) by Robert B. Taylor, p. 141. The original Source is the last sentence of https://www.nobelprize.org/nobel_prizes/physics/laureates/1903/pierre-curie-lecture.pdf
Misattributed

Hugo Chávez photo

“The world has an offer for everybody but it turned out that a few minorities--the descendants of those who crucified Christ, the descendants of those who expelled Bolivar from here and also those who in a certain way crucified him in Santa Marta, there in Colombia--they took possession of the riches of the world, a minority took possession of the planet’s gold, the silver, the minerals, the water, the good lands, the oil, and they have concentrated all the riches in the hands of a few; less than 10 percent of the world population owns more than half of the riches of the world.”

Hugo Chávez (1954–2013) 48th President of Venezuela

Chavez is invoking a Christian metaphor to condemn capitalism in this Christmas address, December 24, 2005, which some commentators have taken to be a reference to the Jews. http://www.gobiernoenlinea.gob.ve/docMgr/sharedfiles/Chavez_visita_Centro_Manantial_de_los_suenos24122005.pdf http://bostonreview.net/BR34.4/lomnitz_sanchez.php http://fair.org/take-action/media-advisories/editing-chavez-to-manufacture-a-slur/
2005

F. E. Smith, 1st Earl of Birkenhead photo

“The world continues to offer glittering prizes to those who have stout hearts and sharp swords”

F. E. Smith, 1st Earl of Birkenhead (1872–1930) British politician

"Idealism in International Politics", Rectoral Address at Glasgow University (7 November, 1923).
Quoted in The Times, 8 November 1923, according to "Guarantee of Peace: The League of Nations in British Policy 1914-1925" by Peter J. Yearwood, pg 280
Context: Politically, economically and philosophically the motive of self-interest not only is but must... and ought to be the mainspring of human conduct... For as long a time as the records of history have been preserved human societies passed through a ceaseless process of evolution and adjustment. This process has sometimes been pacific, but more often it has resulted from warlike disturbance. The strength of different nations, measured in terms of arms, varies from century to century. The world continues to offer glittering prizes to those who have stout hearts and sharp swords; it is therefore extremely improbable that the experience of future ages will differ in any material respect from that which has happened since the twilight of the human race … it is for us who, in our history have proved ourselves a martial … people … to maintain in our own hands the adequate means for our own protection and … to march with heads erect and bright eyes along the road of our imperial destiny.

Alberto Manguel photo
H. Rider Haggard photo
David Hume photo

“Nothing is more usual and more natural for those, who pretend to discover anything new to the world in philosophy and the sciences, than to insinuate the praises of their own systems, by decrying all those, which have been advanced before them.”

Introduction
A Treatise of Human Nature (1739-40)
Context: Nothing is more usual and more natural for those, who pretend to discover anything new to the world in philosophy and the sciences, than to insinuate the praises of their own systems, by decrying all those, which have been advanced before them. And indeed were they content with lamenting that ignorance, which we still lie under in the most important questions, that can come before the tribunal of human reason, there are few, who have an acquaintance with the sciences, that would not readily agree with them. 'Tis easy for one of judgment and learning, to perceive the weak foundation even of those systems, which have obtained the greatest credit, and have carried their pretensions highest to accurate and profound reasoning. Principles taken upon trust, consequences lamely deduced from them, want of coherence in the parts, and of evidence in the whole, these are every where to be met with in the systems of the most eminent philosophers, and seem to have drawn disgrace upon philosophy itself.

Samuel Butler photo
Aldo Leopold photo

“To those devoid of imagination a blank place on the map is a useless waste; to others, the most valuable part.”

Source: A Sand County Almanac, 1949, "Conservation Esthetic", p. 176.
Source: A Sand County Almanac and Sketches Here and There
Context: The trophy-recreationist has peculiarities that contribute in subtle ways to his own undoing. To enjoy he must possess, invade, appropriate. Hence the wilderness that he cannot personally see has no value to him. Hence the universal assumption that an unused hinterland is rendering no service to society. To those devoid of imagination a blank place on the map is a useless waste; to others, the most valuable part.

Walther von der Vogelweide photo

“Those who drown out the good singing –
there's many more of them
than those who want to hear it.”

Walther von der Vogelweide (1170–1230) Middle High German lyric poet

Die daz rehte singen stoerent,
der ist ungelîche mêre
danne die ez gerne hoerent.
"Owê, hovelîchez singen", line 17; translation from Frederick Goldin German and Italian Lyrics of the Middle Ages (New York: Anchor, 1973) p. 127.

Related topics