Adam Smith quote about family from The Wealth of Nations - What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.
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What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.
 Adam Smith, The Wealth of Nations (1776). copy citation

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Author Adam Smith
Source The Wealth of Nations
Topic family state prudence
Date 1776
Language English
Reference An Inquiry into the Nature and Causes of the Wealth of Nations
Note
Weblink http://www.gutenberg.org/files/3300/3300-h/3300-h.htm

Context

“All of them find it for their interest to employ their whole industry in a way in which they have some advantage over their neighbours, and to purchase with a part of its produce, or, what is the same thing, with the price of a part of it, whatever else they have occasion for.
What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom. If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our own industry, employed in a way in which we have some advantage.” source

Meaning and analysis

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