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
All money is a matter of belief.
Interpretation
Money's value is shaped by collective belief rather than intrinsic worth.
This quote by Adam Smith highlights the idea that money derives its value not from the physical currency itself but from the shared belief and confidence of people in its purchasing power. It emphasizes the psychological aspect of economics, where trust and perception play a crucial role in the functioning of monetary systems.
In practice
During a financial literacy seminar, to explain the nature of money.
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.
We all knew this. We all knew that it would take more time than any of us want to dig ourselves out of this hole created by this economic crisis.
We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.
The problem of social organization is how to set up an arrangement under which greed will do the least harm, capitalism is that kind of a system.
A global economy is characterized not only by the free movement of goods and services but, more important, by the free movement of ideas and of capital.
The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.
Hillary Clinton understands that if someone in America this country works 40 hours a week, that person should not be living in poverty. She understands that we must raise the minimum wage to a living wage.
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