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Scottish moral philosopher
and a pioneer of political economy
"Defense is superior to opulence." "I have no faith in political arithmetic." "Mercy to the guilty is cruelty to the innocent." "Monopoly...is a great enemy to good management." "The real tragedy of the poor is the poverty of their aspirations." "No complaint... is more common than that of a scarcity of money." "Labor was the first price, the original purchase-money that was paid for all things." "I have never known much good done by those who affected to trade for the public good." "What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom." "What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience?" "Man is an animal that makes bargains: no other animal does this - no dog exchanges bones with another." "No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable." "All for ourselves, and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind." "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest." "The property which every man has in his own labour; as it is the original foundation of all other property, so it is the most sacred and inviolable…" "To judge whether a workman is fit to be employed, may surely be trusted to the discretion of the employers whose interest it so much concerns." "The whole annual produce of the land and labour of every country...naturally divides itself into three parts; the rent of the land, the wages of labour, and the profits of stock." "Every tax ought to be so contrived as both to take out and to keep out of the pockets of the people as little as possible, over and above what it brings into the treasury of the state." "Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer." "Labour was the first price, the original purchase - money that was paid for all things. It was not by gold or by silver, but by labour, that all wealth of the world was originally purchased." "The desire of food is limited in every man by the narrow capacity of the human stomach; but the desire of the conveniences and ornaments of building, dress, equipage and household furniture, seems to have no limit or certain boundary." "The tax which each individual is bound to pay ought to be certain, and not arbitrary. The time of payment, the manner of payment, the quantity to be paid, ought all to be clear and plain to the contributor, and to every other person..." "The natural price, or the price of free competition ... is the lowest which can be taken, not upon every occasion indeed, but for any considerable time together...[It] is the lowest which the sellers can commonly afford to take, and at the same time continue their business." "Every individual...generally, indeed, neither intends to promote
the public interest, nor knows how much he is promoting it. By preferring
the support of domestic to that of foreign industry he intends only
his own security; and by directing that industry in such a manner as
its produce may be of the greatest value, he intends only his own gain,
and he is in this, as in many other cases, led by an invisible hand
to promote an end which was no part of his intention." Compiled by Thomas George
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