Adam Smith Quote - Liberty Quotes Blog

"Nobody but a beggar chooses to depend chiefly
upon the benevolence of his fellow-citizens."

by:	Adam Smith (1723-1790) Scottish philosopher and economist
Source:	An Inquiry into the Nature and Causes of the Wealth of Nations par. I.2.2 (1776)
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Categories:	Economics, Government, Religion, Virtue
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Reader comments about this quote:

-- Anonymous
Except maybe if you live in certain parts of Arkansas. -- Logan, Memphis, TN
Ahh yes, entitlements, governmental ponzi schemes, larceny, pork barrel, funny money proponents, etc. -- Mike, Norwalk
"Chiefly" is the operative word here. Most folks enjoy having a supportive and cooperative, rather than an antagonistic, society, community and governemnt. Thus what we are seeing today is the desruction of Reganism and Rovism. I read an article yesterday that stated the current Prez election is scientifically proven to go to the Democrats. The way the PolSci guys scientifically prove it is by extensive surveying of public sentiment over the last year or so. The seeds for the current Republican debacle was laid by the Republicans and Reaganistas themselves. Any Democrat would win. Obama is just watering the seeds of their own defeat that the Republicans have planted. Arkansas is great I drove through there once but don't live there. -- Waffler, Smith, Arkansas
Waff, if I'm not mistaken, the Dems have controlled the House and Senate since 2006. Gas was about $2.00 per gallon when they took over and we got all sorts of promises from them, none of which they have done. Maxine Waters, Obama, Pelosi , Reed, Biden, and the rest of the usual suspects were telling us that the mortgages ,going to knuckleheads who had no way of paying, were just fine and Fannie and Freddie were alive and well, They were saying as recently as a year ago that no oversite or control was necessary.The need for this bailout was caused primarily by liberal democrats with help from a few of their liberal Republicrat buddies. And to think that some misguided morons want to turn the nations health care over to this same bunch. Go figure. Waff we all knew you weren't from Arkansas or even this planet. -- jim k, austin
I am just happy that Waffler gave this statement 5 stars. Amen! -- RKA, Wasilla, AK
And if pigs could vote, they would elect the guy with the slop bucket every time. It is neither democrats nor republicans that have caused this economic crash -- it is the fiat currency from the Fed. The only way a dollar is issued is if someone borrows it thus expanding the money supply. Whenever someone pays back a loan, the money disappears thus contracting the money supply. It is the Fed that decides interest rates which in turn either promote more borrowing and the expansion of the money supply or promote less borrowing and contraction of the money supply. When the government 'borrows' trillions, trillions are magically created and put into circulation and the economy will be good (for a while) until inflation kicks in which will be a couple years away. Congress has set no limit to their own borrowing and they have been spending like never before. The problem is that since interest is also paid to the banks and thus does not disappear into the void, there is not enough money in circulation to cover the repayment of all the promises to pay (i.e. debt) -- so we must borrow more and more and more ad infinitum. The result is that EVERYONE including our ENTIRE GOVERNMENT is perpetually in debt to a private bank that is perpetually profiting -- if we all owe 15 trillion dollars, the Fed HAS 15 trillion dollars!! If we owe nothing, the Fed has NOTHING. It doesn't take an Adam Smith to figure out that fiat currency is the tool of totalitarians who have become the de facto rulers of us all whether democrat or republican or independent. -- E Archer, NYC

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