338 Quotes by Adam Smith

It is not the actual greatness of national wealth, but its continual increase, which occasions a rise in the wages of labour. It is not, accordingly, in the richest countries, but in the most thriving, or in those which are growing rich the fastest, that the wages of labour are highest. England is certainly, in the present times, a much richer country than any part of North America. The wages of labour, however, are much higher in North America than in any part of England.

This great increase of the quantity of work which, in consequence of the division of labour, the same number of people are capable of performing, is owing to three different circumstances; first, to the increase of dexterity in every particular workman; secondly, to the saving of the time which is commonly lost in passing from one species of work to another; and lastly, to the invention of a great number of machines which facilitate and abridge labour, and enable one man to do the work of many.

The real and effectual discipline which is exercised over a workman is that of his customers. It is the fear of losing their employment which restrains his frauds and corrects his negligence.

We want the public to be more engaged.

I have never known much good done by those who affected to trade for the public good.

All registers which, it is acknowledged, ought to be kept secret, ought certainly never to exist.

That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.

We know that not everyone agrees, and we want to do our best to respect their views, too.

Happiness never lays its finger on its pulse.