Adam Smith Quotations

Adam Smith

Adventure upon all the tickets in the lottery, and you lose for certain; and the greater the number of your tickets the nearer your approach to this certainty.

Every man is, no doubt, by nature, first and principally recommended to his own care; and as he is fitter to take care of himself than of any other person, it is fit and right that it should be so.

Examine the records of history, recollect what has happened within the circle of your own experience, consider with attention what has been the conduct of almost all the greatly unfortunate, either in private or public life, whom you may have either read of, or hear of, or remember, and you will find that the misfortunes of by far the greater part of them have arisen from their not knowing when they were well, when it was proper for them to set still and to be contented.

If you don't know who you are, the stock market is an expensive place to find out.

It is acquired wisdom and experience only that teach incredulity, and they very seldom teach it enough.

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. We address ourselves, not to their humanity but to their self-love, and never talk to them of our necessities but of their advantages. Nobody but a beggar chooses to depend chiefly upon the benevolence of his fellow citizens.

It is the highest impertinence and presumption, therefore, in kings and ministers, to pretend to watch over the economy of private people, and to restrain their expense, either by sumptuary laws, or by prohibiting the importation of foreign luxuries. They are themselves always, and without any exception, the greatest spendthrifts in the society. Let them look well after their own expense, and they may safely trust private people with theirs. If their own extravagance does not ruin the state, that of their subjects never will.

Let us suppose that the great empire of China, with all its myriads of inhabitants, was suddenly swallowed up by an earthquake, and let us consider how a man of humanity in Europe, who had no sort of connexion with that part of the world, would be affected upon receiving intelligence of this dreadful calamity. He would, I imagine, first of all, express very strongly his sorrow for the misfortune of that unhappy people, he would make many melancholy reflections upon the precariousness of human life, and the vanity of all the labours of man, which could thus be annihilated in a moment. He would too, perhaps, if he was a man of speculation, enter into many reasonings concerning the effects which this disaster might produce upon the commerce of Europe, and the trade and business of the world in general. And when all this fine philosophy was over, when all these humane sentiments had been once fairly expressed, he would pursue his business or his pleasure, take his repose or his diversion, with the same ease and tranquillity, as if no such accident had happened. The most frivolous disaster which could befall himself would occasion a more real disturbance.

Man is an animal that makes bargains: no other animal does this -- no dog exchanges bones with another.

Men desire to have some share in the management of public affairs chiefly on account of the importance which it gives them.

The great secret of education is to direct vanity to proper objects. Never suffer him to value himself upon trivial accomplishments.

Those parts of education, it is to be observed, for the teaching of which there are no public institutions, are generally the best taught.

[W]e are too apt to admire and almost to worship the fortunate, the powerful, and the rich.

What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience?

They're both here...I know it.