Adam Smith Quotes
Man is an animal that makes bargains: no other animal does this - no dog exchanges bones with another.
Samuel Langhorne Clemens, 1835-1910
This proverb is particularly relevant to the legislative process where coalitions of legislators trade off support for other issues to get support on a current issue. The problem is that someone who will support you only because you offer him something, might also abandon you if the other side offers him more.
Adam Smith FRSA was a Scottish economist, philosopher as well as a moral philosopher, a pioneer of political economy, and a key figure during the Scottish Enlightenment, also known as ''The Father of Economics'' or ''The Father of Capitalism''. Smith wrote two classic works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, often abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. In his work, Adam Smith introduced his theory of absolute advantage.