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Quotes: Smith, Adam


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"It is not from the benevolence of the butcher, the brewer, or the baker, that we can expect our dinner, but from their regard to their own interest. ... By directing that industry in such a manner as its produce may be of 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."
Adam Smith
The Wealth of Nations

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(Added by Michael E. Marotta on 3/03, 11:36am)
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The uniform, constant and uninterrupted effort of every man to better his condition, the principle from which public and national, as well as private opulence is originally derived, is frequently powerful enough to maintain the natural progress of things toward improvement, in spite both of the extravagance of government, and of the greatest errors of administration. Like the unknown principle of animal life, it frequently restores health and vigour to the constitution, in spite, not only of the disease, but of the absurd prescriptions of the doctor.
Adam Smith
The Wealth of Nations, Book II Chapter III

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(Added by Søren Olin on 8/12, 2:49am)
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It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages. Nobody but a beggar chooses to depend chiefly upon the benevolence of his fellow citizens.
Adam Smith
The Wealth of Nations

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(Added by G. Stolyarov II on 4/16/2004, 8:55pm)
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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.
Adam Smith
The Wealth of Nations

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(Added by G. Stolyarov II on 4/10/2004, 6:21pm)
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