Adam Smith Quotes (1723-1790)

Philosopher, Author

About Adam Smith

Adam Smith (16 June 1723 – 17 July 1790) was a Scottish-born economist and philosopher, widely considered the "father of modern economics".

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Mercy to the guilty is cruelty to the innocent.
Adam Smith
Hatred and anger are the greatest poison to the happiness of a good mind.
Adam Smith
The Union was a measure from which infinite Good has been derived to this country.
We are delighted to find a person who values us as we value ourselves, and distinguishes us from the rest of mankind, with an attention not unlike that with which we distinguish ourselves.
The virtue of frugality lies in a middle between avarice and profusion, of which the one consists in an excess, the other in a defect of the proper attention to the objects of self–interest.
Adam Smith

Adam Smith Quotes by Topic

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Adam Smith on Division of labor 4 quotes

The greatest improvement in the productive powers of labour, and the greatest part of skill, dexterity, and judgment with which it is any where directed, or applied, seem to have been the effects of the division of labor.
Adam Smith
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Adam Smith on Capital 3 quotes

No fixed capital can yield any revenue but by means of a circulating capital.
Adam Smith
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Adam Smith on Merchant 3 quotes

A merchant, it has been said very properly, is not necessarily the citizen of any particular country.
Adam Smith
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Adam Smith on Management 2 quotes

In the long-run the workman may be as necessary to his master as his master is to him, but the necessity is not so immediate.
Adam Smith
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Adam Smith on Productive forces 2 quotes

The greatest improvement in the productive powers of labour, and the greatest part of skill, dexterity, and judgment with which it is any where directed, or applied, seem to have been the effects of the division of labour.
Adam Smith
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What Adam Smith Said About Others

Discover personal opinions Adam Smith shared regarding contemporaries.

Adam Smith on Tibullus

The elegant, the tender, and the passionate Tibullus.
Adam Smith

Adam Smith on William Pitt the Younger

The firmness, propriety and prudence of every part of your young friends conduct must, as long as it is remembered, place him very high in the estimation of every wise and thinking man in the Kingdom.
Adam Smith

Adam Smith on David Hume

Upon the whole, I have always considered him, both in his lifetime and since his death, as approaching as nearly to the idea of a perfectly wise and virtuous man, as perhaps the nature of human frailty will permit.
Adam Smith

Adam Smith on Thomas Robert Malthus

The liberal reward of labour, as it is to the effect of increasing wealth, so it is the cause of increasing population. To complain of it, is to lament over the necessary effect and cause of the greatest public prosperity.
Adam Smith

Adam Smith on Edward Gibbon

I have ten thousand apologies to make, for not having long ago returned you my best thanks for the very agreeable present you made me of the three last volumes of your History. I cannot express to you the pleasure it gives me to find, that by the universal assent of every man of taste and learning, whom I either know or correspond with, it sets you at the very head of the whole literary tribe at present existing in Europe.
Adam Smith

Quotes About Adam Smith

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Lord Acton on Adam Smith 2 quotes

We are forced, in equity, to share the government with the working class by considerations which were made supreme by the awakening of political economy. Adam Smith set up two propositions—that contracts ought to be free between capital and labour, and that labour is the source, he sometimes says the only source, of wealth. If the last sentence, in its exclusive form, was true, it was difficult to resist the conclusion that the class on which national prosperity depends ought to control the wealth it supplies, that is, ought to govern instead of the useless unproductive class, and that the class which earns the increment ought to enjoy it. That is the foreign effect of Adam Smith—French Revolution and Socialism.
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Robert Bisset on Adam Smith

Mr. Burke talked in very high terms of Dr. Adam Smith; praised the clearness and depth of his understanding, his profound and extensive learning, and the vast accession that had accrued to British literature and philosophy from these exertions, and described his heart as being equally good with his head and his manners as peculiarly pleasing. Mr. Smith, he said, told him, after they had conversed on subjects of political economy, that he was the only man, who, without communication, thought on these topics exactly as he did.

Kenneth Boulding on Adam Smith

Adam Smith, who has strong claim to being both the Adam and the Smith of systematic economics, was a professor of moral philosophy and it was at that forge that economics was made.
Adam Smith

James M. Buchanan on Adam Smith

[T]he simple fact is, of course, that in normal trade all parties gain; there exist mutual gains from trade. The great contribution of Adam Smith lay in his popularization of this simple point, but the full import of this conception for democratic political theory does not seem to have yet been appreciated.
Adam Smith

Edmund Burke on Adam Smith

An excellent digest of all that is valuable in former Oeconomical writers with many valuable corrective Observations.
Adam Smith

About Adam Smith

Adam Smith (16 June 1723 – 17 July 1790) was a Scottish-born economist and philosopher, widely considered the "father of modern economics".