Adam Smith
Adam Smith
Adam Smith– 17 July 1790) was a Scottish moral philosopher, pioneer of political economy, and a key figure in the Scottish Enlightenment...
NationalityScottish
ProfessionEconomist
Date of Birth5 June 1723
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The theory that can absorb the greatest number of facts, and persist in doing so, generation after generation, through all changes of opinion and detail, is the one that must rule all observation.
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The annual produce of the land and labour of any nation can be increased in its value by no other means, but by increasing either the number of its productive labourers, or the productive powers of those labourers who had before been employed.
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This great increase of the quantity of work which, in consequence of the division of labour, the same number of people are capable of performing, is owing to three different circumstances; first, to the increase of dexterity in every particular workman; secondly, to the saving of the time which is commonly lost in passing from one species of work to another; and lastly, to the invention of a great number of machines which facilitate and abridge labour, and enable one man to do the work of many.
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Among civilized and thriving nations, on the contrary, though a great number of people do no labor at all, many of whom consume the produce of ten times, frequently of a hundred times more labour than the greater part of those who work; yet the produce of the whole labour of the society is so great, that all are often abundantly supplied, and a workman, even of the lowest and poorest order, if he is frugal and industrious, may enjoy a greater share of the necessaries and conveniencies of life than it is possible for any savage to acquire.
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Capitals are increased by parsimony, and diminished by prodigalityand misconduct. By what a frugal man annually saves he not onlyaffords maintenance to an additional number of productive hands?but?he establishes as it were a perpetual fund for the maintenance of an equal number in all times to come.
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Every individual...generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it. By preferring the support of domestic to that of foreign industry he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, 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 no part of his intention.
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We think most publishers and authors will choose to participate in the publisher program in order to introduce their work to countless readers around the world. But we know that not everyone agrees, and we want to do our best to respect their views too. So now, any and all copyright holders . . . can tell us which books they'd prefer that we not scan if we find them in a library.
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That was probably our best game of the year.
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We're building this area between Milwaukee and Chicago as the best of both worlds. We're just excited to bring another high-profile event here.
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Mankind are animals that makes bargains, no other animal does this.
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We are not ruling out that if a program is performing poorly, it doesn't get funding.
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Give credit to their goalie as he had some good saves.
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This was a big win. These guys are a good team, so we didn't expect that one goal to hold up.
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When EAA began the 'Timeless Voices' project in 2002, we sought to record the personal histories of a remarkable aviation generation that was passing from our midst. We have saved many stories from people who now, just a few years later, are no longer with us.