Adam Smith Quotes

When national debts have once been accumulated to a certain degree, there is scarce, I believe, a single instance of their having been fairly and completely paid. The liberation of the public revenue, if it has ever been brought about at all, has always been brought about by bankruptcy; sometimes by an avowed one, but always by a real one, though frequently by a pretend payment.

 
Context

None.

Citations

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

Eigen's Political and Historical Quotations


Adam Smith
Adam Smith
  • Born: June 5, 1723
  • Died: July 17, 1790
  • Nationality: Scottish
  • Profession: Economist

Adam Smith FRSA was a Scottish economist, philosopher and author as well as a moral philosopher, a pioneer of political economy and a key figure during the Scottish Enlightenment. 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.