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Smith, Adam
Born: 1723-06-05
Died: 1790-07-17

Scottish economist.

Adam Smith (1723-1790) was a Scottish economist and philosopher. He is famous for his influential book The Wealth of Nations (1776). He is generally thought of as the father of modern economics.

Quotes

All money is a matter of belief.
- Adam Smith

Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things.
- Adam Smith

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.
- Adam Smith

Such is the delicacy of man alone, that no object is produced to his liking. He finds that in everything there is need for improvement.... The whole industry of human life is employed not in procuring the supply of our three humble necessities, food, clothes and lodging, but in procuring the conveniences of it according to the nicety and delicacy of our tastes.
- Adam Smith

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

No complaint ... is more common than that of a scarcity of money.
- Adam Smith




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