Resentment seems to have been given us by nature for a defense, and for a defense only! It is the safeguard of justice and the security of innocence.
Adam SmithRead
No complaint... is more common than that of a scarcity of money.
Interpretation
People often complain about not having enough money, reflecting a common struggle in society.
Adam Smith highlights a universal issue that transcends time, where the lack of money is a frequent source of dissatisfaction among individuals. This scarcity function serves as a critical commentary on economic conditions, personal priorities, and social structures that shape our attitudes towards wealth and resources, emphasizing how financial concerns dominate human experiences.
In practice
During a financial seminar, one could use this quote to discuss common financial challenges.
Resentment seems to have been given us by nature for a defense, and for a defense only! It is the safeguard of justice and the security of innocence.
It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.
Wherever there is great property, there is great inequality.
This is one of those cases in which the imagination is baffled by the facts.
The real and effectual discipline which is exercised over a workman is that of his customers. It is the fear of losing their employment which restrains his frauds and corrects his negligence.
Defense is superior to opulence.
The perennial conviction that those who work hard and play by the rules will be rewarded with a more comfortable present and a stronger future for their children faces assault from just about every direction. That great enemy of democratic capitalism, economic inequality, is real and growing.
If low taxes were the way that people like me created wealth, then we'd be starting our companies in the Congo or Somalia or Afghanistan, but we're not. We come to places where there are lots and lots of customers.
African countries lose billions every year because of tax dodging by big corporations and wealthy individuals. They lose billions more from overly generous tax incentives in a misguided belief that this is the only way to attract foreign investment.
Those who advocate devaluation are calling for a reduction in the wage levels and the real wage standards of every member of the working class.
The Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe. Instead of using its powers to offset the depression, it presided over a decline in the quantity of money by one-third from 1929 to 1933 ... Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government.
There is no western, capitalistic country in which the conditions of the masses have not improved in an unprecedented way.
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