All Lessons

All Communication Lessons

Adam Smith – Self Interest

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...

Hayek – Central Planning

This is not a dispute about whether planning is to be done or not. It is a dispute as to whether planning is to be done centrally, by one authority for the whole economic system, or is to be divided among many individuals. From The Use of Knowledge in Society....

Adam Smith – Invisible Hand

From An Inquiry into the Nature and Causes of the Wealth of Nations, Book IV, Chap. 2 by Adam Smith.  By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce...

Adam Smith – All Quotes

“No human wisdom or knowledge could ever be sufficient [for] the duty of superintending the industry of private people…” “[Governments are] …without exception, the greatest spendthrifts in the society.” “The agents of [government] regard the wealth...