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
Wherever there is great property there is great inequality. For one very rich man there must be at least five hundred poor, and the affluence of the few supposes the indigence of the many. The affluence of the rich excites the indignation of the poor, who are often both driven by want, and prompted by envy, to invade his possessions.
Interpretation
The wealth of a few leads to significant poverty among many, creating social tension.
Adam Smith highlights the relationship between wealth and inequality, suggesting that great accumulation of property by a few is often accompanied by widespread poverty among the majority. This disparity leads to social unrest, as the poor, motivated by need and jealousy, may seek to challenge the possessions of the wealthy, escalating tensions in society.
In practice
This quote could be cited during a discussion on social justice at a community meeting.
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.
There can be no rise in the value of labour without a fall of profits.
Our financial system is driven by a giant marketing machine in which the interests of sellers directly conflict with the interests of buyers.
Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today.
If anything, taxes for the lower and middle class and maybe even the upper-middle class should even probably be cut further. But I think that people at the high end - people like myself - should be paying a lot more in taxes. We have it better than we've ever had it.
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.
Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.
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