Principium Volume II, Book 8, Quote 805, 810, 813

805. The demand for those who live by wages, therefore, necessarily increases with the increase of revenue and stock (money available to invest)ATJ of every country, and cannot possibly increase without it. The increase of revenue and stock is the increase of national wealth. The demand for those who live by wages, therefore, naturally increases with the increase of national wealth, and cannot possible increase without it. It is not the actual greatness of national wealth, but its continual increase, which occasions a rise in the wages of labour [sic]. It is not, accordingly, in the richest countries, but in the most thriving, or in those which are growing rich the fastest, that the wages of labour are highest.

- Adam Smith – The Wealth of Nations, 1776


810. (5-10-2010) (This is always the case, even in our individual lives.)ATJ It deserves to be remarked, perhaps, that it is in the progressive (growing)ATJ state, while the society is advancing to the further acquisition, rather than when it has acquired its full complement of riches, that the condition of the labouring [sic] poor, of the great body of people, seems to be the happiest and the most comfortable. It is hard in the stationary, and miserable in the declining state. The progressive state is in reality the cheerful and the hearty state to all the different orders of the society. The stationary is dull; the declining, melancholy.

- Adam Smith – The Wealth of Nations, 1776


813. (5-10-2010) (Wal-Mart philosophy)ATJ A great stock though with small profits, generally increases faster than a small stock with great profits. Money, says the proverb, makes money. When you have got a little, it is often easy to get more. The great difficulty is to get that little.

- Adam Smith – The Wealth of Nations, 1776

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