Thursday, February 4, 2010

Quote for Thursday

Adam Smith (1723-1790) wrote The Wealth of Nations back in 1776, at a time when there really was no academic field of economics. I guess you can say he kind of invented the field. Here's a brief selection from that book:

"The difference of natural talents in different men, is,
in reality, much less than we are aware of. By nature
a philosopher is not a genius half so different from a
street porter, as a mastiff is from a greyhound. But
the strength of the mastiff is not in the least supported
by the swiftness of the greyhound. Among men, on
the contrary, the most dissimilar geniuses are of use
to one another; by the disposition to truck and
barter, their talents are brought into a common
stock, where every man may purchase part of
the produce of other men's talents."

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