The trade of insurance gives great security to the fortunes of private people, and by dividing among a great many that loss which would ruin an individual, makes it fall light and easy upon the whole society.
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Chapter I, Part III, p. 821Adam Smith
The growth of cities has gone on beyond comparison faster than the growth of the country, and the upbuilding of the great industrial centers has meant a startling increase, not merely in the aggregate of wealth, but in the number of very large individual, and especially of very large corporate, fortunes. The creation of these great corporate fortunes has not been due to the tariff nor to any other governmental action, but to natural causes in the business world, operating in other countries as they operate in our own.
Theodore Roosevelt
A healthy, creative, open, growing, learning society will spontaneously create and develop the types of individual that the society needs. It will make development to economic and social adjustments all the more easy and natural. It will allow those of us in the private sector as well as government and civil society to correspond with each other and meet the needs of society in a positive way.
Talal Abu-Ghazaleh
It is truly a marvelous thing to consider to what greatness Athens arrived in the space of one hundred years after she freed herself from the tyranny of Pisistratus; but, above all, it is even more marvelous to consider the greatness Rome reached when she freed herself from her kings. The reason is easy to understand, for it is the common good and not private gain that makes cities great. Yet, without a doubt, this common good is observed only in republics, for in them everything that promotes it is practised, and however much damage it does to this or that private individual, those who benefit from the said common good are so numerous that they are able to advance in spite of the inclination of the few citizens who are oppressed by it.
Niccolo Machiavelli
As every individual, therefore, endeavours as much as he can both to employ his capital in the support of domestic industry, and so to direct that industry that its produce may be of the greatest value; every individual necessarily labours to render the annual revenue of the society as great as he can. He 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. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he 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. It is an affectation, indeed, not very common among merchants, and very few words need be employed in dissuading them from it.
Adam Smith
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 expence, either by sumptuary laws, or by prohibiting the importation of foreign luxuries. They are themselves always, and without any exception, the greatest spendthrifts in the society. Let them look well after their own expence, and they may safely trust private people with theirs. If their own extravagance does not ruin the state, that of their subjects never will.
Adam Smith
Smith, Adam
Smith, Alexander
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