Browse 9 quotations connecting Adam Smith with Productivity, with meanings, source notes and related themes.
Sources represented here include The Wealth of Nations, The Theory of Moral Sentiments.
“What is the reward most proper for encouraging industry, prudence, and circumspection? Success in every sort of business.”
Smith links practical success with habits of industry, prudence, and careful judgment, while treating that success as the characteristic external reward of those traits.
The Theory of Moral Sentiments, Part III; Smith asks what rewards ordinarily encourage industry, prudence, truth, justice, and humanity.
“The habits of œconomy, industry, discretion, attention, and application of thought, are generally supposed to be cultivated from self-interested motives.”
Smith acknowledges that disciplined habits can arise from self-interest while still being socially praised for the steadiness, care, and practical competence they develop.
The Theory of Moral Sentiments, Part VI, Section II discussion of systems that make virtue consist in benevolence; historical spelling “œconomy” is retained.
“The rules of justice are accurate in the highest degree, and admit of no exceptions or modifications, but such as may be ascertained as accurately as the rules themselves.”
Smith contrasts justice with looser virtues by arguing that its external obligations require unusually precise rules if people are to rely on one another.
The Theory of Moral Sentiments, Part III discussion of the general rules of morality; Smith contrasts exact rules of justice with more flexible rules of prudence and generosity.
“Consumption is the sole end and purpose of all production.”
Production ultimately exists to serve people who use goods and services, a reminder that economic activity should not lose sight of its human end.
The Wealth of Nations; Smith states the consumer-oriented purpose of production while discussing economic policy.
“Money is neither a material to work upon, nor a tool to work with.”
Money facilitates exchange and payment but is distinguished from the materials, tools, and subsistence that directly enable productive work.
The Wealth of Nations, Book II, Chapter II; Project Gutenberg #3300. Smith is explaining money as part of circulating capital rather than denying its practical usefulness.
“The produce of labour constitutes the natural recompence or wages of labour.”
Smith begins his wages discussion from the idea that labour’s product is the worker’s original recompense before later property relations divide output.
The Wealth of Nations, Book I, Chapter VIII; Project Gutenberg #3300. The historical spelling “recompence” is retained and the sentence belongs to a larger theoretical argument.
“Labour was the first price, the original purchase-money that was paid for all things.”
Smith grounds economic value historically in labor and effort, making work central to his discussion of exchange before money becomes the convenient measure.
The Wealth of Nations, Book I, Chapter V; Smith discusses labour as the original price and measure behind exchange.
“Wages, profit, and rent, are the three original sources of all revenue, as well as of all exchangeable value.”
Smith separates major forms of income according to labour, stock, and land, providing a historical framework for how revenue is distributed.
The Wealth of Nations, Book I, Chapter VI; Project Gutenberg #3300. The statement is part of Smith’s eighteenth-century theory of price and income distribution.
“The real price of every thing, what every thing really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.”
Smith distinguishes nominal money price from the labour and sacrifice required to acquire something, making cost broader than the number printed on a transaction.
The Wealth of Nations, Book I, Chapter V; Project Gutenberg #3300. This belongs to Smith’s labour-command discussion of real and nominal price.
