Adam Smith Quotes


It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.


Context

There are some in America who believe that progressive taxation where the rich pay at a higher rate was an invention of the New Deal and FDR. As this quotation shows, it was a well understood and debated concept before there was a United States.


Citations

Adam Smith, 1723-1790, Scottish Political Economist, The Wealth of Nations, 1776

Sourced by: Eigen's Political and Historical Quotations

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Adam Smith
Adam Smith
  • Born: June 16, 1723
  • Died: July 17, 1790
  • Nationality: Scottish
  • Profession: Economist

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.