economics

A Quote by Adam Smith on economics, people, privacy, and society

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. They are themselves, always, and without any exception, the greatest spendthrifts in the society.

Adam Smith

Contributed by: Zaady

A Quote by Adam Smith on america, beginning, conquest, discovery, economics, gold, injustice, prophets, and thought

Modern critics of the Conquest have an unlikely ally in the eighteenth-century prophet of laissez-faire economics: "It is not by the importation of gold and silver, that the discovery of America has enriched Europe. ...The commodities of Europe were almost all new to America, and many of those of America were new to Europe. A new set of exchanges, therefore, began t o take place which had never been thought of before, and which should naturally have proved as advantageous to the new, as it certainly did to the old continent. The savage injustice of the Europeans rendered an event, which ought to have been beneficial to all, ruinous and destructive to several of those unfortunate countries."

Adam Smith

Source: The Wealth of Nations, 1776

Contributed by: Zaady

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