Adams Smith Quotes

Civil government, so far as it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all.

Science is the great antidote to the poison of enthusiasm and superstition.

The 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.

Mercy to the guilty is cruelty to the innocent.

Never complain of that of which it is at all times in your power to rid yourself.

It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own self-interest. We address ourselves not to their humanity but to their self-love, and never talk to them of our own necessities, but of their advantages

No society can surely be flourishing and happy of which by far the greater part of the numbers are poor and miserable.

People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.

It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.

Virtue is more to be feared than vice, because its excesses are not subject to the regulation of conscience.

Individual Ambition Serves the Common Good.

All for ourselves, and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind.

Wherever there is great property, there is great inequality.

The great source of both the misery and disorders of human life, seems to arise from over-rating the difference between one permanent situation and another. Avarice over-rates the difference between poverty and riches: ambition, that between a private and a public station: vain-glory, that between obscurity and extensive reputation. The person under the influence of any of those extravagant passions, is not only miserable in his actual situation, but is often disposed to disturb the peace of society, in order to arrive at that which he so foolishly admires. The slightest observation, however, might satisfy him, that, in all the ordinary situations of human life, a well-disposed mind may be equally calm, equally cheerful, and equally contented. Some of those situations may, no doubt, deserve to be preferred to others: but none of them can deserve to be pursued with that passionate ardour which drives us to violate the rules either of prudence or of justice; or to corrupt the future tranquillity of our minds, either by shame from the remembrance of our own folly, or by remorse from the horror of our own injustice.

Man is an animal that makes bargains: no other animal does this - no dog exchanges bones with another.

You cannot defeat darkness by running from it, nor can you conquer your inner demons by hiding them from the world. In order to defeat the darkness, you must bring it into the light.

The man whose whole life is spent in performing a few simple operations, of which the effects are perhaps always the same, or very nearly the same, has no occasion to exert his understanding or to exercise his invention in finding out expedients for removing difficulties which never occur. He naturally loses, therefore, the habit of such exertion, and generally becomes as stupid and ignorant as it is possible for a human creature to become.

Every man lives by exchanging.

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.

Problems worthy of attacks, prove their worth by hitting back

Wherever 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.

The learned ignore the evidence of their senses to preserve the coherence of the ideas of their imagination.

It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.

We have to grasp, as Marx and Adam Smith did, that corporations are not concerned with the common good. They exploit, pollute, impoverish, repress, kill, and lie to make money. They throw poor people out of homes, let the uninsured die, wage useless wars for profit, poison and pollute the ecosystem, slash social assistance programs, gut public education, trash the global economy, plunder the U.S. Treasury and crush all popular movements that seek justice for working men and women. They worship money and power.

How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it, except the pleasure of seeing it.

What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.

The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities.

Man naturally desires, not only to be loved, but to be lovely.

Abandon the idea that you will forever be the victim of the things that have happened to you. Choose to be a victor.

There is no art which one government sooner learns of another than that of draining money from the pockets of the people.

The key insight of Adam Smith's Wealth of Nations is misleadingly simple: if an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most economic fallacies derive from the neglect of this simple insight, from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.

We are but one of the multitude, in no respect better than any other in it.

Loneliness is amplified when everyone you know is busy talking to everyone but you.

Hatred and anger are the greatest poison to the happiness of a good mind.

How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it except the pleasure of seeing it.

The interest of [businessmen] is always in some respects different from, and even opposite to, that of the public ... The proposal of any new law or regulation of commerce which comes from this order ... ought never to be adopted, till after having been long and carefully examined ... with the most suspicious attention. It comes from an order of men ... who have generally an interest to deceive and even oppress the public

Consumption is the sole end and purpose of all production

Civil government, so far as it is instituted for the security of property, is in reality instituted for the defence of the rich against the poor, or of those who have some property against those who have none at all.

The Universe is full of dots. Connect the right ones and you can draw anything. The important question is not whether the dots you picked are really there, but why you chose to ignore all the others.

The first principle is that you must not fool yourself—and you are the easiest person to fool.

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with most unnecessary attention but assume an authority which could safely be trusted to no council and senate whatever, and which would nowhere be so dangerous as in the hands of man who have folly and presumption enough to fancy himself fit to exercise it.

There is a great deal of ruin in a nation.

Though our brother is upon the rack, as long as we ourselves are at ease, our senses will never inform us of what he suffers. They never did and never can carry us beyond our own persons, and it is by the imagination only that we form any conception of what are his sensations...His agonies, when they are thus brought home to ourselves, when we have this adopted and made them our own, begin at last to affect us, and we then tremble and shudder at the thought of what he feels.

Virtue is excellence, something uncommonly great and beautiful, which rises far above what is vulgar and ordinary.

The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command. Labour, therefore, is the real measure of the exchangeable value of all commodities. The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.

All right, Adam", I say. "You're gonna help me win this war.

To superficial minds, the vices of the great seem at all times agreeable.

The great source of both the misery and disorders of human life, seems to arise from over-rating the difference between one permanent situation and another...

The strategy for the discoverers and entrepreneurs is to rely less on top-down planning and focus on maximum tinkering and recognizing opportunities when they present themselves. So I disagree with the followers of Marx and those of Adam Smith: the reason free markets work is because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or “incentives” for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can.

True love is still true, even if you can't live it the way you want to," I told her.

A nation is not made welthy by the childish accumulation of shiny metals, but it enriched by the economic prosperity of it's people.

A man must always live by his work, and his wages must at least be sufficient to maintain him. They must even upon most occasions be somewhat more; otherwise it would be impossible for him to bring up a family, and the race of such workmen could not last beyond the first generation.

What happens if it doesn't work out, Charli?" he called. "Then it's not the end, Adam," I replied, barely slowing my walk.

Apalagi yang bisa ditambahkan pada kebahagiaan seseorang yang sehat, tidak berhutang dan hati nuraninya bersih?

Adam grasped him by the throat once more and, his face an inch from Smith’s, growled out, “I am the Duke of Kielder. I am the law.

The furious behaviour of an angry man is more likely to exasperate us against himself than against his enemies.

The prudent man always studies seriously and earnestly to understand whatever he professes to understand, and not merely to persuade other people that he understands it; and though his talents may not always be very brilliant, they are always perfectly genuine

I won't close down a business of subnormal profitability merely to add a fraction of a point to our corporate returns. I also feel it inappropriate for even an exceptionally profitable company to fund an operation once it appears to have unending losses in prospect. Adam Smith would disagree with my first proposition and Karl Marx would disagree with my second; the middle ground is the only position that leaves me comfortable.

This disposition to admire, and almost to worship, the rich and the powerful, and to despise, or, at least, to neglect persons of poor and mean condition, though necessary both to establish and to maintain the distinction of ranks and the order of society, is, at the same time, the great and most universal cause of the corruption of our moral sentiments.

How do you cause people to believe in an imagined order such as Christianity, democracy or capitalism? First, you never admit that the order is imagined. You always insist that the order sustaining society is an objective reality created by the great gods or by the laws of nature. People are unequal, not because Hammurabi said so, but because Enlil and Marduk decreed it. People are equal, not because Thomas Jefferson said so, but because God created them that way. Free markets are the best economic system, not because Adam Smith said so, but because these are the immutable laws of nature.

In ease of body and peace of mind, all the different ranks of life are nearly upon the same level, and the beggar who suns himself by the highway, possesses that security which kings are fighting for.

The great secret of education is to direct vanity to proper objects.

You can't defeat the darkness by keeping it caged inside of you.

It is not from the benevolence of the Butcher, the Brewer or the Baker that we expect our dinner, but from their regard to their own interest

wages of labour, the profits of stock, or the rent of land.

The prudent man always studies seriously and earnestly to understand whatever he professes to understand, and not merely to persuade other people that he understands it; and though his talents may not always be very brilliant, they are always perfectly genuine. He neither endeavours to impose upon you by the cunning devices of an artful impostor, nor by the arrogant airs of an assuming pedant, nor by the confident assertions of a superficial and imprudent pretender. He is not ostentatious even of the abilities which he really possesses. His conversation is simple and modest, and he is averse to all the quackish arts by which other people so frequently thrust themselves into public notice and reputation.

The poor man's son, whom heaven has in its anger visited with ambition, goes beyong admiration of palaces to envy. He labours all his life to outdo his competitors, only to find the end that the rich are no happier than the poor in the things that really matter.

In a nation distracted by faction, there are, no doubt, always a few, though commonly but a very few, who preserve their judgment untainted by the general contagion. They seldom amount to more than, here and there, a solitary individual, without any influence, excluded, by his own candour, from the confidence of either party, and who, though he may be one of the wisest, is necessarily, upon that very account, one of the most insignificant men in the society.

Nobody ever saw a dog make a fair and deliberate exchange of one bone for another with another dog. Nobody ever saw one animal by its gestures and natural cries signify to another, this is mine, that yours; I am willing to give this for that....But man has almost constant occasion for the help of his brethren, and it is in vain for him to expect it from their benevolence only. He will be more likely to prevail if he can interest their self-love in his favour, and show them that it is for their own advantage to do for him what he requires of them. Whoever offers to another a bargain of any kind, proposes to do this. Give me that which I want, and you shall have this which you want, is the meaning of every such offer; and it is in this manner that we obtain from one another the far greater part of those good offices which we stand in need of.

It is not for its own sake that men desire money, but for the sake of what they can purchase with it.

The wages of labour are the encouragement of industry, which, like every other human quality, improves in proportion to the encouragement it receives.

The profligacy of a man of fashion is looked upon with much less contempt and aversion, than that of a man of meaner condition.

Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society which he has in view. But the study of his own advantage naturally, or rather necessarily, leads him to prefer that employment which is most advantageous to society... He intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was not part of his intention

... the typical worker who through the whole of his life...pursues the idea of a certain artificial and elegant repose which he may never arrive at, for which he sacrifices a real tranquility...It is this deception which rouses and keeps in continual motion the industry of mankind.

Every faculty in one man is the measure by which he judges of the like faculty in another.  I judge of your sight by my sight, of your ear by my ear, of your reason by my reason, of your resentment by my resentment, of your love by my love.  I neither have, nor can have, any other way of judging about them.

We should not forget Adam Smith’s perspicuous observation that the “masters of mankind”—in his day, the merchants and manufacturers of England—never cease to pursue their “vile maxim”: “All for ourselves, and nothing for other people.

How many people ruin themselves by laying out money on trinkets of frivolous utility? What pleases these lovers of toys is not so much the utility, as the aptness of the machines which are fitted to promote it. All their pockets are stuffed with little conveniences. They contrive new pockets, unknown in the clothes of other people, in order to carry a greater number. They walk about loaded with a multitude of baubles, in weight and sometimes in value not inferior to an ordinary Jew's-box, some of which may sometimes be of some little use, but all of which might at all times be very well spared, and of which the whole utility is certainly not worth the fatigue of bearing the burden.

But no moral philosopher, from Aristotle to Aquinas, to John Locke and Adam Smith, divorced economics from a set of moral ends or held the production of wealth to be an end in itself; rather it was seen as a means to the realization of virtue, a means of leading a civilized life.

As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce. The wood of the forest, the grass of the field, and all the natural fruits of the earth, which, when land was in common, cost the labourer only the trouble of gathering them, come, even to him, to have an additional price fixed upon them. He must then pay for the licence to gather them, and must give up to the landlord a portion of what his labour either collects or produces. This portion, or, what comes to the same thing, the price of this portion, constitutes the rent of land, and in the price of the greater part of commodities, makes a third

Adam Smith was not a big fan of the pursuit of fame and fortune. His view of what we truly want, of what really makes us happy, cuts to the core of things. It takes him only twelve words to get to the heart of the matter: Man naturally desires, not only to be loved, but to be lovely.

The annual labour of every nation is the fund which originally supplies it with all the necessaries and conveniencies of life which it annually consumes, and which consist always either in the immediate produce of that labour, or in what is purchased with that produce from other nations.

The prudent man is always sincere, and feels horror at the very thought of exposing himself to the disgrace which attends upon the detection of falsehood. But though always sincere, he is not always frank and open; and though he never tells any thing but the truth, he does not always think himself bound, when not properly called upon, to tell the whole truth. As he is cautious in his actions, so he is reserved in his speech; and never rashly or unnecessarily obtrudes his opinion concerning either things or persons.

Are you in earnest resolved never to barter your liberty for the lordly servitude of a court, but to live free, fearless, and independent? There seems to be one way to continue in that virtuous resolution; and perhaps but one. Never enter the place from whence so few have been able to return; never come within the circle of ambition; nor ever bring yourself into comparison with those masters of the earth who have already engrossed the attention of half mankind before you.

The man of system, on the contrary, is apt to be very wise in his own conceit; and is often so enamoured with the supposed beauty of his own ideal plan of government, that he cannot suffer the smallest deviation from any part of it. He goes on to establish it completely and in all its parts, without any regard either to the great interests, or to the strong prejudices which may oppose it. He seems to imagine that he can arrange the different members of a great society with as much ease as the hand arranges the different pieces upon a chess-board. He does not consider that the pieces upon the chess-board have no other principle of motion besides that which the hand impresses upon them; but that, in the great chess-board of human society, every single piece has a principle of motion of its own, altogether different from that which the legislature might chuse to impress upon it. If those two principles coincide and act in the same direction, the game of human society will go on easily and harmoniously, and is very likely to be happy and successful. If they are opposite or different, the game will go on miserably, and the society must be at all times in the highest degree of disorder.

According, therefore, as this produce, or what is purchased with it, bears a greater or smaller proportion to the number of those who are to consume it, the nation will be better or worse supplied with all the necessaries and conveniencies for which it has occasion.

The man who indulges us in this natural passion, who invites us into his heart, who, as it were, sets open the gates of his breast to us, seems to exercise a species of hospitality more delightful than any other. No man, who is in ordinary good temper, can fail of pleasing, if he has the courage to utter his real sentiments as he feels them, and because he feels them.

76. David Hume – Treatise on Human Nature; Essays Moral and Political; An Enquiry Concerning Human Understanding 77. Jean-Jacques Rousseau – On the Origin of Inequality; On the Political Economy; Emile – or, On Education, The Social Contract 78. Laurence Sterne – Tristram Shandy; A Sentimental Journey through France and Italy 79. Adam Smith – The Theory of Moral Sentiments; The Wealth of Nations 80. Immanuel Kant – Critique of Pure Reason; Fundamental Principles of the Metaphysics of Morals; Critique of Practical Reason; The Science of Right; Critique of Judgment; Perpetual Peace 81. Edward Gibbon – The Decline and Fall of the Roman Empire; Autobiography 82. James Boswell – Journal; Life of Samuel Johnson, Ll.D. 83. Antoine Laurent Lavoisier – Traité Élémentaire de Chimie (Elements of Chemistry) 84. Alexander Hamilton, John Jay, and James Madison – Federalist Papers 85. Jeremy Bentham – Introduction to the Principles of Morals and Legislation; Theory of Fictions 86. Johann Wolfgang von Goethe – Faust; Poetry and Truth 87. Jean Baptiste Joseph Fourier – Analytical Theory of Heat 88. Georg Wilhelm Friedrich Hegel – Phenomenology of Spirit; Philosophy of Right; Lectures on the Philosophy of History 89. William Wordsworth – Poems 90. Samuel Taylor Coleridge – Poems; Biographia Literaria 91. Jane Austen – Pride and Prejudice; Emma 92. Carl von Clausewitz – On War 93. Stendhal – The Red and the Black; The Charterhouse of Parma; On Love 94. Lord Byron – Don Juan 95. Arthur Schopenhauer – Studies in Pessimism 96. Michael Faraday – Chemical History of a Candle; Experimental Researches in Electricity 97. Charles Lyell – Principles of Geology 98. Auguste Comte – The Positive Philosophy 99. Honoré de Balzac – Père Goriot; Eugenie Grandet 100. Ralph Waldo Emerson – Representative Men; Essays; Journal 101. Nathaniel Hawthorne – The Scarlet Letter 102. Alexis de Tocqueville – Democracy in America 103. John Stuart Mill – A System of Logic; On Liberty; Representative Government; Utilitarianism; The Subjection of Women; Autobiography 104. Charles Darwin – The Origin of Species; The Descent of Man; Autobiography 105. Charles Dickens – Pickwick Papers; David Copperfield; Hard Times 106. Claude Bernard – Introduction to the Study of Experimental Medicine 107. Henry David Thoreau – Civil Disobedience; Walden 108. Karl Marx – Capital; Communist Manifesto 109. George Eliot – Adam Bede; Middlemarch 110. Herman Melville – Moby-Dick; Billy Budd 111. Fyodor Dostoevsky – Crime and Punishment; The Idiot; The Brothers Karamazov 112. Gustave Flaubert – Madame Bovary; Three Stories 113. Henrik Ibsen – Plays 114. Leo Tolstoy – War and Peace; Anna Karenina; What is Art?; Twenty-Three Tales 115. Mark Twain – The Adventures of Huckleberry Finn; The Mysterious Stranger 116. William James – The Principles of Psychology; The Varieties of Religious Experience; Pragmatism; Essays in Radical Empiricism 117. Henry James – The American; The Ambassadors 118. Friedrich Wilhelm Nietzsche – Thus Spoke Zarathustra; Beyond Good and Evil; The Genealogy of Morals;The Will to Power 119. Jules Henri Poincaré – Science and Hypothesis; Science and Method 120. Sigmund Freud – The Interpretation of Dreams; Introductory Lectures on Psychoanalysis; Civilization and Its Discontents; New Introductory Lectures on Psychoanalysis 121. George Bernard Shaw – Plays and Prefaces

Our lives are a journey. As we move forward, we will not only figuratively experience the geography of life: the exhilaration of high mountains, the tranquility of calm meadows, the isolation of treacherous canyons, but we will also experience the seasons of life: the hope of spring, the abundance of summer, the harvest of autumn, and yes, the darkness and depression of winter.

In the natural sciences, some checks exist on the prolonged acceptance of nutty ideas, which do not hold up well under experimental and observational tests and cannot readily be shown to give rise to useful working technologies. But in economics and the other social studies, nutty ideas may hang around for centuries. Today, leading presidential candidates and tens of millions of voters in the USA embrace ideas that might have been drawn from a 17th-century book on the theory and practice of mercantilism, and multitudes of politicians and ordinary people espouse notions that Adam Smith, David Ricardo, and others exploded more than two centuries ago. In these realms, nearly everyone simply believes whatever he feels good about believing.

The appeal to the intellectually insecure is also more important than it might seem. Because economics touches so much of life, everyone wants to have an opinion. Yet the kind of economics covered in the textbooks is a technical subject that many people find hard to follow. How reassuring, then, to be told that it is all irrelevant -- that all you really need to know are a few simple ideas! Quite a few supply-siders have created for themselves a wonderful alternative intellectual history in which John Maynard Keynes was a fraud, Paul Samuelson and even Milton Friedman are fools, and the true line of deep economic thought runs from Adam Smith through obscure turn-of-the-century Austrians straight to them.

It is the interest of every man to live as much at his ease as he can; and if his emoluments are to be precisely the same, whether he does or does not perform some very laborious duty, it is certainly his interest, at least as interest is vulgarly understood, either to neglect it altogether, or, if he is subject to some authority which will not suffer him to do this, to perform it in as careless and slovenly a manner as that authority will permit.

Love is so much more than some random, euphoric feeling. And real love isn’t always fluffy, cute, and cuddly. More often than not, real love has its sleeves rolled up, dirt and grime smeared on its arms, and sweat dripping down its forehead. Real love asks us to do hard things—to forgive one another, to support each other’s dreams, to comfort in times of grief, or to care for family. Real love isn’t easy—and it’s nothing like the wedding day—but it’s far more meaningful and wonderful.

If you want to make the world a better place, work on being trustworthy, and honor those who are trustworthy. Be a good friend and surround yourself with worthy friends. Don’t gossip. Resist the joke that might hurt someone’s feelings even when it’s clever. And try not to laugh when your friend tells you that clever joke at someone’s expense. Being good is not just good for you and those around you, but because it helps others be good as well. Set a good example, and by your loveliness you will not only be loved, but you may influence the world.

What is the species of domestic industry which his capital can employ, and of which the produce is likely to be of the greatest value, every individual, it is evident, can, in his local situation, judge much better than any statesman or lawgiver can do for him. The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.

Let us suppose that the great empire of China, with all its myriads of inhabitants, was suddenly swallowed up by an earthquake, and let us consider how a man of humanity in Europe, who had no sort of connection with that part of the world, would be affected upon receiving intelligence of this dreadful calamity. He would, I imagine, first of all, express very strongly his sorrow for the misfortune of that unhappy people, he would make many melancholy reflections upon the precariousness of human life, and the vanity of all the labours of man, which could thus be annihilated in a moment. He would too, perhaps, if he was a man of speculation, enter into many reasonings concerning the effects which this disaster might produce upon the commerce of Europe, and the trade and business of the world in general. And when all this fine philosophy was over, when all these humane sentiments had been once fairly expressed, he would pursue his business or his pleasure, take his repose or his diversion, with the same ease and tranquillity, as if no such accident had happened. The most frivolous disaster which could befall himself would occasion a more real disturbance. If he was to lose his little finger to-morrow, he would not sleep to-night; but, provided he never saw them, he will snore with the most profound security over the ruin of a hundred millions of his brethren, and the destruction of that immense multitude seems plainly an object less interesting to him, than this paltry misfortune of his own. To prevent, therefore, this paltry misfortune to himself, would a man of humanity be willing to sacrifice the lives of a hundred millions of his brethren, provided he had never seen them? Human nature startles with horror at the thought, and the world, in its greatest depravity and corruption, never produced such a villain as could be capable of entertaining it. But what makes this difference? When our passive feelings are almost always so sordid and so selfish, how comes it that our active principles should often be so generous and so noble? When we are always so much more deeply affected by whatever concerns ourselves, than by whatever concerns other men; what is it which prompts the generous, upon all occasions, and the mean upon many, to sacrifice their own interests to the greater interests of others? It is not the soft power of humanity, it is not that feeble spark of benevolence which Nature has lighted up in the human heart, that is thus capable of counteracting the strongest impulses of self-love. It is a stronger power, a more forcible motive, which exerts itself upon such occasions. It is reason, principle, conscience, the inhabitant of the breast, the man within, the great judge and arbiter of our conduct.

A mass-circulation magazine asked me to explain to its readers what was going on. I had this Fellini scene: We are all at a wonderful ball where the champagne sparkles in every glass and soft laughter falls upon the summer air. We know, by the rules, that at some moment the Black Horsemen will come shattering through the great terrace doors, wreaking vengeance and scattering the survivors. Those who leave early are saved, but the ball is so splendid no one wants to leave while there is still time, so that everyone keeps asking “What time is it? What time is it?” but none of the clocks have any hands. The Black Horsemen did come, of course, and

La niña de once años que todas las mañanas recorre quince kilómetros en busca de leña para su familia desempeña un papel enorme en el desarrollo económico de su país. A pesar de ellos, su trabajo no es reconocido. La chica es invisible en las estadísticas económicas. En la magnitud del PIB, por la cual medimos la actividad económica de un país, ella no cuenta. Su actividad no se considera importante para la economía o para el crecimiento económico. Parir niños, criarlos, cultivar el huerto, hacerles la comida a los hermanos, ordeñar la vaca de la familia, coserles la ropa o cuidar de Adam Smith para que él pudiera escribir “La riqueza de las naciones”; nada de esto se considera “trabajo productivo” en los modelos económicos estándar. Fuera del alcance de la mano invisible se encuentra el sexo invisible.

Adam Smith FRSE (baptised June 5, 1723 O.S. / June 16 N.S. – July 17, 1790) was a Scottish moral philosopher and a pioneering political economist. He is also the founder of economics. One of the key figures of the intellectual movement known as the Scottish Enlightenment, he is known primarily as the author of two treatises: The Theory of Moral Sentiments (1759), and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter was one of the earliest attempts to systematically study the historical development of industry and commerce in Europe, as well as a sustained attack on the doctrines of mercantilism. Smith's work helped to create the modern academic discipline of economics and provided one of the best-known intellectual rationales for free trade, capitalism, and libertarianism. Adam Smith is now depicted on the back of the Bank of England £20 note. Source: Wikipedia

But the Elves were not so lightly to be caught. As soon as Sauron set the One Ring upon his finger they were aware of him; and they knew him, and perceived that he would be master of them, and of an that they wrought. Then in anger and fear they took off their rings. But he, finding that he was betrayed and that the Elves were not deceived, was filled with wrath; and he came against them with open war, demanding that all the rings should be delivered to him, since the Elven-smiths could not have attained to their making without his lore and counsel. But the Elves fled from him; and three of their rings they saved, and bore them away, and hid them. Now these were the Three that had last been made, and they possessed the greatest powers. Narya, Nenya, and Vilya, they were named, the Rings of Fire, and of Water, and of Air, set with ruby and adamant and sapphire; and of all the Elven-rings Sauron most desired to possess them, for those who had them in their keeping could ward off the decays of time and postpone the weariness of the world. But Sauron could not discover them, for they were given into the hands of the Wise, who concealed them and never again used them openly while Sauron kept the Ruling Ring. Therefore the Three remained unsullied, for they were forged by Celebrimbor alone, and the hand of Sauron had never touched them; yet they also were subject to the One.

The English word Atonement comes from the ancient Hebrew word kaphar, which means to cover. When Adam and Eve partook of the fruit and discovered their nakedness in the Garden of Eden, God sent Jesus to make coats of skins to cover them. Coats of skins don’t grow on trees. They had to be made from an animal, which meant an animal had to be killed. Perhaps that was the very first animal sacrifice. Because of that sacrifice, Adam and Eve were covered physically. In the same way, through Jesus’ sacrifice we are also covered emotionally and spiritually. When Adam and Eve left the garden, the only things they could take to remind them of Eden were the coats of skins. The one physical thing we take with us out of the temple to remind us of that heavenly place is a similar covering. The garment reminds us of our covenants, protects us, and even promotes modesty. However, it is also a powerful and personal symbol of the Atonement—a continuous reminder both night and day that because of Jesus’ sacrifice, we are covered. (I am indebted to Guinevere Woolstenhulme, a religion teacher at BYU, for insights about kaphar.) Jesus covers us (see Alma 7) when we feel worthless and inadequate. Christ referred to himself as “Alpha and Omega” (3 Nephi 9:18). Alpha and omega are the first and last letters of the Greek alphabet. Christ is surely the beginning and the end. Those who study statistics learn that the letter alpha is used to represent the level of significance in a research study. Jesus is also the one who gives value and significance to everything. Robert L. Millet writes, “In a world that offers flimsy and fleeting remedies for mortal despair, Jesus comes to us in our moments of need with a ‘more excellent hope’ (Ether 12:32)” (Grace Works, 62). Jesus covers us when we feel lost and discouraged. Christ referred to Himself as the “light” (3 Nephi 18:16). He doesn’t always clear the path, but He does illuminate it. Along with being the light, He also lightens our loads. “For my yoke is easy,” He said, “and my burden is light” (Matthew 11:30). He doesn’t always take burdens away from us, but He strengthens us for the task of carrying them and promises they will be for our good. Jesus covers us when we feel abused and hurt. Joseph Smith taught that because Christ met the demands of justice, all injustices will be made right for the faithful in the eternal scheme of things (see Teachings, 296). Marie K. Hafen has said, “The gospel of Jesus Christ was not given us to prevent our pain. The gospel was given us to heal our pain” (“Eve Heard All These Things,” 27). Jesus covers us when we feel defenseless and abandoned. Christ referred to Himself as our “advocate” (D&C 29:5): one who believes in us and stands up to defend us. We read, “The Lord is my rock, and my fortress, and my deliverer; my God, my strength, in whom I will trust; my buckler” (Psalm 18:2). A buckler is a shield used to divert blows. Jesus doesn’t always protect us from unpleasant consequences of illness or the choices of others, since they are all part of what we are here on earth to experience. However, He does shield us from fear in those dark times and delivers us from having to face those difficulties alone. … We’ve already learned that the Hebrew word that is translated into English as Atonement means “to cover.” In Arabic or Aramaic, the verb meaning to atone is kafat, which means “to embrace.” Not only can we be covered, helped, and comforted by the Savior, but we can be “encircled about eternally in the arms of his love” (2 Nephi 1:15). We can be “clasped in the arms of Jesus” (Mormon 5:11). In our day the Savior has said, “Be faithful and diligent in keeping the commandments of God, and I will encircle thee in the arms of my love” (D&C 6:20). (Brad Wilcox, The Continuous Atonement, pp. 47-49, 60).