The Wealth of Nations Flashcards
What is the benefit of reducing every man’s business to one operation?
It increases very much the dexterity of the workman
When one acquires a great fortune, does he acquire power?
No. The person who succeeds to a great fortune does not succeed to any political power. His fortune may perhaps acquire him the means to afford civil or military power.
What does Adam Smith say about working moderately or constantly?
The man who works moderately, as opposed to constantly, not only preserves his health the longest, but, in the course of the year, executes the greatest quantity of work.
Money makes money. When you’ve got a little, it is often easy to get more…
The hard part is to get that little
What is the intention of fixed capital?
To increase the productive powers of labor. To enable the same number of laborers to perform a much greater quantity of work.
Why is Parsimony more important than Industry?
Because industry provides the subject which parsimony accumulates. But whatever industry might acquire, if parsimony did not save and store up, the capital would never be the greater.
What is a quality of a prudent master?
To never attempt to make at home what will cost him more to make than to buy.
