Adam Smith Quotes

Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society, which he has in his view. But the study of his own advantage naturally, or rather necessarily leads him to prefer that employment which is most advantageous to the society.

It's appropriate for people to pursue their profit motive in business. If you want to change that, you're going against human nature. But when it comes to setting the rules or creating the institutions, then you should have the general interest at heart.

The stock of materials by which any nation is rendered flourishing and prosperous are its industry, its knowledge or skill, its morals, its execution of justice, its courage, and the national union in directing these powers to one point and making them all center in the public benefit.

They could care less about the public. The public comes in third. Number one is keeping their power. Number two are the special interests, the people footing the bill. Finally, the public good might be third — if they can profit from it. If there's no profit, they could care less.

That's the trick of free market economic theory: it doesn't just ask you to only be selfish and not care about others. It tells you that by being selfish, you are helping others. And, in fact, by trying to directly help others, you will hurt them.

By pursuing his own interest (the individual) frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good.

Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society which he has in view. But the study of his own advantage naturally, or rather necessarily, leads him to prefer that employment which is most advantageous to society... He intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was not part of his intention

Economists love to talk about incentives, but the bottom line is that people hate being controlled or manipulated, even when done through voluntary institutions. This is one of the most important tensions in capitalism.

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.

If you talk to most businessmen, they'll say that what they do is for the public good, but you know they're just greedy, and consumers are just consuming for the sake of their own greed.

The free market is the epitome of life itself. This is something that all scientists recognise because science itself operates on free market lines.

It is a general error to imagine the loudest complainers for the public to be the most anxious for its welfare.

The key to the moral superiority of capitalism is that people get rich by imaginatively serving the needs of others.

Although a Kingdom may be enriched by gifts received, or by purchase taken from some other Nations, yet these are things uncertain and of small consideration when they happen. The ordinary means therefore to increase our wealth and treasure is by Foreign Trade

Capitalism in one century of growth has enormously increased its power, not only through expansion over the entire earth, but also through development into new forms

…mortals cannot cherish what is private without injury to the community…to the extent that we call anything our own it absorbs our affections and diverts them from the service of the common good.

… a good society ensues from the selfish pursuits of individual men.

People think the free market is a philosophy, they think that it is a creed. It is none of those things. Free market is a bathroom scale, it is a measuring tape, it's simply a measurement.

I believe that businesses will do what is best for their business. I don't know that the government needs to be stepping in and telling them, 'This is what you will do.'

The free market, the people, will find solutions and they always did in the past.

He is led by an invisible hand to promote an end which was no part of his intention

The public good is promoted best by people pursuing their own private interests. This bothers some people because they're more concerned with motives than with results.

People who intend only to seek their own benefit are “led by an invisible hand to serve a public interest which was no part of” their intention. I say that there is a reverse invisible hand: People who intend to serve only the public interest are led by an invisible hand to serve private interests which was no part of their intention.

A healthy national infrastructure requires not just competent engineers but also a government—and a public—willing to pay for it.

I'm definitely not the same actor that I was when I was 9 years old, and that's because my intentions, my goals, aspirations, or whatever were different.