“Adam Smith himself was under no allusion about the desire of individuals, particularly business men, to create privileged positions for themselves.”

Source: A History of Economic Thought (1939), Chapter IV, The Classical System, p. 154

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 "Adam Smith himself was under no allusion about the desire of individuals, particularly business men, to create privileg…" by Eric Roll, Baron Roll of Ipsden?

Eric Roll, Baron Roll of Ipsden24

British economist 1907–2005

Related quotes

“Beloved guests, in what form does God, the Creator of all things in the universe, exist? God exists as the dual characteristics of a subject partner in the male position and object partner in the female position. God created Adam and Eve, the first human ancestors, by dividing the male and female positions within Himself. The children of Adam and Eve were to have been created in the same pattern of male and female as a result of the union formed by Adam and Eve.”

Sun Myung Moon (1920–2012) Korean religious leader

The Holy Marriage Blessing is the Path to Unite the Virtues of Heaven and Earth and Harmonize and Unify the Universe as One http://www.unification.net/2005/20050820.html (2005-08-20)

“Adam Smith, the father of free-market economics,”

Barack Obama (1961) 44th President of the United States of America

2013, Remarks on Economic Mobility (December 2013)
Context: It was Adam Smith, the father of free-market economics, who once said, “They who feed, clothe, and lodge the whole body of the people should have such a share of the produce of their own labor as to be themselves tolerably well fed, clothed, and lodged.” And for those of you who don’t speak old-English let me translate. It means if you work hard, you should make a decent living. If you work hard, you should be able to support a family.

“Adam Smith is, of course, justly lauded for his advocacy of free markets and limited government. Particularly famous is his idea that each person’s pursuit of self-interest leads, as if by an invisible hand, to socially efficient outcomes.”

Robert Barro (1944) American classical macroeconomist

Nothing Is Sacred (2002)

“Adam Smith and Malthus and Ricardo! There is something about these three figures to evoke more than ordinary sentiments from us their children in the spirit.”

John Maynard Keynes (1883–1946) British economist

Source: Essays In Biography (1933), Robert Malthus: The First of the Cambridge Economists, p. 148

“In the middle of the last century there was comparatively little movement of workmen from place to place; but Adam Smith's fierce attack on the law of settlement shows that migration was on the increase. The world was, in fact, on the eve of an industrial revolution; and it is interesting to remember that the two men who did most to bring it about, Adam Smith and James Watt, met, as I have mentioned, in Glasgow, when one was dreaming of the book, and the other of the invention, which were to introduce a new industrial age.”

Arnold Toynbee (1852–1883) British economic historian

Source: Lectures on The Industrial Revolution in England (1884), p. 189

“…where are we to look for the consumption required but among the unproductive labourers of Adam Smith?…”

Thomas Robert Malthus Principles of Political Economy

Book II, Chapter I, On the Progress of Wealth, Section IX, p. 406
Principles of Political Economy (Second Edition 1836)

“Adam Smith, Say, and especially C. J. Kraus, one of the best teachers of Adam Smith’s theory, are my guides. The aim of my work is to present, in my own arrangement, their writings and thoughts clearly and plainly, together with some of my own observations.”

Fryderyk Skarbek (1792–1866) Polish noble

Introduction: Cited in: Hiroshi Mizuta, A Critical Bibliography of Adam Smith, Routledge, 20116. p. 173.
National Household, 1820

“The only real justice is that which the individual creates for himself”

William Powell (author) book The Anarchist Cookbook

Source: The Anarchist Cookbook (1971), Chapter Three: "Natural, Nonlethal, and Lethal Weapons", p. 78.
Context: I have no patience with individuals who claim that everything will be beautiful if guns and other weapons are outlawed. These people do not have the foresight to realise that, if weapons are made illegal, they will only be possessed by enemies of the people (i. e., the army, the police, outlaws, and madmen). I feel very strongly that every person should be armed and that he or she should be prepared for the worst. There is no justice left in the system. The only real justice is that which the individual creates for himself, and the individual is helpless without a gun. This may sound like the dogma expounded by radical right-wing groups, like the Minute Men. It is.

“But Adam Smith was a philosopher as well as well as an economist, famous in his time as much for his Theory of Moral Sentiments as for The Wealth of Nations. And as he understood so well, society is more than the sum of its individual parts.”

Paul Ormerod book The Death of Economics

Source: The Death of Economics (1994), Chapter 10, Economics Revisited, p. 212

“(…) Gandhi also distanced himself from classical economic theory. Adam Smith’s assertion that it is in the nature of each individual to pursue his or her own self-interest in the marketplace and that “it is his own advantage, indeed, and not that of the society, which he has in view,” was anathema to Gandhi.54 He believed in a virtuous economy in which the community’s interest superseded individual self-interest and argued that anything less depreciates the happiness of the human race.”

Jeremy Rifkin (1945) American economist

The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism (2014)

“Adam Smith himself was under no allusion about the desire of individuals, particularly business men, to create privileged positions for themselves.”

Help us to complete the source, original and additional information

Eric Roll, Baron Roll of Ipsden24

Related quotes

Related topics