On July 17, 1790, the Scottish economist and philosopher Adam Smith died, who is considered one of the greatest exponents of classical economics and the philosophy of economics. We want to pay tribute to him through the 8 phrases with Adam Smith’s teaching on the day of his death.
His work The Wealth of Nations has marked a before and after in the process of the economy of then and now, and hence he is known as the father of modern economics.
Best Adam Smith Quotes
A gardener who cultivates his own garden, with his own hands, unites in his person the three characters, owner, farmer and worker. Its production, therefore, must yield the income of the first, the profit of the second, and the salary of the third.
Individuals… are not trying to promote the public interest nor do they know how much they are promoting it. They only seek their own security, their own gain, for which they are led by an invisible hand to promote an end that was not in their intentions. In pursuit of their personal interest they tend to promote that of society more effectively than when they actually intend to promote it.
Actually, attraction or affection is nothing more than sympathy out of habit. 8 phrases with teaching from Adam Smith
Traders in the same business rarely get together, even for entertainment and amusement, but the conversation ends in a conspiracy against the public, or some ploy to increase prices.
There is nothing in life more unexpected or surprising than the appearance and the fading of pleasure. If we meet him in a place today it will be in vain to look for him there tomorrow. It is not possible to tie ties to seize it.
With most rich people, the pleasure of the rich consists in the parade of wealth, which in their eyes is never as complete as when they demonstrate that they possess those decisive marks of opulence that no one but themselves can possess.
Rarely do people in the same trade meet, not even for fun or entertainment, but when they do, the conversation often ends in a conspiracy against the public or some scheme to raise prices.
The true price of everything, what everything really costs the man who wants to acquire it, is the effort and complexity of acquiring it.
