That the chance of gain is naturally over-valued, we may learn from the universal success of lotteries.
Adam SmithThe tolls for the maintenance of a high road, cannot with any safety be made the property of private persons.
Adam SmithIt is the highest impertinence and presumption, therefore, in kings and ministers to pretend to watch over the economy of private people, and to restrain their expense. They are themselves, always, and without any exception, the greatest spendthrifts in the society.
Adam SmithThe first thing you have to know is yourself. A man who knows himself can step outside himself and watch his own reactions like an observer.
Adam SmithWherever 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.
Adam Smith