Smith Quotes - page 11
To shut our eyes to the part that John Smith plays in the perpetuation of unworkable policies, in building up the forces of which he becomes the victim, is to perpetuate his victimization. The only means by which he can be liberated from the evil power of organized minorities is by making him aware of the nature of the impulses and motives to which the exploiters so successfully appeal.
Norman Angell
The physiocrats started a train of thought which was a powerful stimulus to the development of a labour theory of value and surplus value. They did not, however develop such a theory of value themselves. What attention they gave to the problem of exchange-value and price produced results of an altogether different character. Thus while one of their contributions finds its continuation in Smith, Ricardo, and Marx, the other leads to the post-classical supply and demand and utility theories of value.
Eric Roll, Baron Roll of Ipsden
A very useful book might be written with the sole object of advising what parts of what books should be read. It should not be a book of elegant extracts, but should merely refer to the passages which are advised to be read. It might also indicate what are the chief works upon any given subject. For example, take rent; the important passages in Adam Smith, Ricardo, Jones, Mill, and other writers, should be referred to.
Arthur Helps
Sometimes rhetorical phrases are applied even by eminent Judges to propositions of law. In Lord Dungannon v. Smith Lord Brougham in eloquent language declared it as "one of the corner stones of the law," and I understand the Lord Chancellor in the same case to have considered the decision in Jee v. Audley to be "one of the landmarks."
Henry Brougham, 1st Baron Brougham and Vaux
The proposition that markets drive economic efficiency is central to much of economics. Adam Smith illustrated that the "invisible hand” of the market drives efficient allocation of resources in a system of division of labor. Friedrich Hayek illustrated the central importance of the price system as an information processing mechanism more powerful than any centrally planned system could ever be. Kenneth Arrow and Gerard Debreu illustrated that complete and perfect markets deliver a Pareto-efficient equilibrium, in which no one person can be made better off without making someone else worse off. And the development of the efficient- market and rational- expectations hypotheses suggested that financial markets are in fact efficient, and that the conditions required for efficiency and for rational and stable equilibria apply even in contracts between the present and the future, which financial markets provide.
Adair Turner, Baron Turner of Ecchinswell
Captain Smith reached Virginia on April 26, 1607, with a number of English gentlemen and some people who were willing to work. Then they all held a meeting to discuss ways and means of civilizing everybody. They made a great many speeches and accused each other of various crimes and misdemeanors and arrested some of themselves as an object lesson, and American history was started at last.
Will Cuppy
(Recalling her conversation with Anna Nicole Smith eating lunch) All of a sudden, she takes a bite of something and she goes like this (makes a disgusted face) "I don't lahk it." I go, "What's the matter, honey?" and she goes "I don't lahk it. I thought it was mashed pataters." PA-TAY-TERS! I heard it with my own ears. PATATERS. Britney probably wants to marry her now. So, anyway, I looked on her plate and said, "No, it's polenta" and, I swear to God, she looks at me and goes "Pimento?" I said, "No, that's an olive. "Polenta"
Kathy Griffin
Now, when anybody starts talking about this [an all-volunteer force] he immediately shifts language. My army is 'volunteer,' your army is 'professional,' and the enemy's army is 'mercenary.' All these three words mean exactly the same thing. I am a volunteer professor, I am a mercenary professor, and I am a professional professor. And all you people around here are mercenary professional people. And I trust you realize that. It's always a puzzle to me why people should think that the term 'mercenary' somehow has a negative connotation. I remind you of that wonderful quotation of Adam Smith when he said, 'You do not owe your daily bread to the benevolence of the baker, but to his proper regard for his own interest.'
Milton Friedman
The entire thrust of neoclassical thought is to argue that the free market economy is an efficient system that will optimize utility for all mankind, if only government will get out of the way. It therefore departs from classical economists such as Adam Smith, who recognized the importance of governments for regulating markets and preventing monopolies.
David Orrell
