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Quotational Therapy: Part 49 -- Adam Smith.

Adam Smith-

The uniform, constant and uninterrupted effort of every man to better his condition, the principle from which public and national, as well as private opulence is originally derived, is frequently powerful enough to maintain the natural progress of things toward improvement, in spite both of the extravagance of government, and of the greatest errors of administration. Like the unknown principle of animal life, it frequently restores health and vigour to the constitution, in spite, not only of the disease, but of the absurd prescriptions of the doctor.

Source:
Adam Smith Institute.

As individuals work toward improving their own lives, there will be economic growth. The public good is often promoted far more effectively through the accumulation of individuals working on their own behalf, than through any top-down government program.

For economic growth, the best government action is often no action. But even an inept or overbearing government can oversee a thriving economy if each individuals has the incentive to better his own lot in life.

Economies are not zero sum; people do not necessarily have to profit at the expense of others as they fight for a finite pool of wealth. Wealth can be created, not merely passed around.

Previous Quotational Therapy Session:

George W. Bush On The War On Terror.

The right quote can be therapeutic, so tune in to WILLisms.com for quotational therapy every Monday and Friday.

Posted by Will Franklin · 14 October 2005 06:25 AM

Comments

Posted by: Rob B. at October 14, 2005 09:34 AM