Quote by: Adam Smith

In regards to the price of commodities, the rise of wages operates as simple interest does, the rise of profit operates like compound interest. Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.


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Author Bio


  • NameAdam Smith
  • DescriptionScottish moral philosopher and political economist
  • BornJune 16, 1723
  • DiedJuly 17, 1790
  • CountryKingdom Of Great Britain
  • ProfessionEconomist; Non-fiction Writer; Philosopher
  • WorksThe Theory Of Moral Sentiments
  • AwardsFellow Of The Royal Society