...CONSUMPTION. HE ultimate aim of the economic function is consumption. " Consumption," says Adam Smith, " is the sole end and purpose of all production ; and...be necessary for promoting that of the consumer." l To do otherwise would be to busy ourselves about the means without caring for the end. 1 Wealth of...

...indigent, is too offen either neglected or oppressed. III, p. 4. 2 Consumption is the sole end aud purpose of all production ; and the interest of the producer ought to be attended to, only so far äs it may be necessary for promoting that of the consumer. III, p. 28. Dafs durch den übergrofsen...

...CONSUMPTION.1 § 1. Meaning of Consumption — Objective and Subjective. " Consumption," says Adam Smith, " is the sole end and purpose of all production ; and...may be necessary for promoting that of the consumer. This maxim is so perfectly self-evident that it would be absurd to attempt to prove it."2 This passage,...

...lays down a maxim "so perfectly self-evident, that it would be absurd to attempt to prove it " : — " Consumption is the sole end and purpose of all production...be necessary for promoting that of the consumer." This golden rule was everywhere violated by the mercantile system, which seemed to consider production...

...production the be-all and the end-all of their pseudo-science. Let Adam Smith answer for himself : Consumption is the sole end and purpose of all production...may be necessary for promoting that of the consumer. This maxim is so self-evident that it would be absurd to attempt to prove it." And Adam Smith, in summing...

...defined as the use of commodities or erf anything having exchange value. "Consumption," says Adam Smith, "is the sole end and purpose of all production, and...be necessary for Promoting that of the consumer." " Later criticism," says rofessor Nicholson (in Palgrave's "Dictionary of Political Economy") "has...

...system. § 2. " Consumption the sole End and Purpose of all Production": Critical Examination of. " Consumption is the sole end and purpose of all production ; and the interest of the producer ought only to be attended to only so far as it may be necessary for promoting that of the consumer. The maxim...

...system. § 2. " Consumption the sole End and Purpose of all Production": Critical Examination of. " Consumption is the sole end and purpose of all production ; and the interest of the producer ought only to be attended to only so far as it may be necessary for promoting that of the consumer. The maxim...

...operated his business on the principles advocated by the old philosopher Adam Smith in 1755 when he said "Consumption is the sole end and purpose of all production, and the interest of the producers ought to be attended to only in so far as it may be necessary for protecting the interests...

...point. While dealing largely with production, Smith started from the standpoint of the consumer : " Consumption is the sole end and purpose of all production,...be necessary for promoting that of the consumer." i Though sometimes overlooked or unexpressed, this has been the ultimate standpoint of the pure English...