...produce of its industry." Adam Smith has the following homely remarks upon this principle : — " It is the maxim of every prudent master of a family never...attempt to make his own clothes, but employs a tailor. The farmer attempts to make neither the one nor the other, but employs those different artificers....

...foreign industry, the regulation is evidently useless. If it cannot, it must generally be hurtful. It is the maxim of every prudent master of a. family, never...attempt to make his own clothes, but employs a tailor. The farmer attempts to make neither the one nor the other, but employs those different artificers....

...great doctrines of political economy by a reference to the simplest transactions. He says, * It is the maxim of every prudent master of a family never...him more to make than to buy. The tailor does not make his own shoes, but buys them off the shoemaker. The shoemaker does not make his own clothes, but...

...great doctrines of political economy by a reference to the simplest transactions. He sayp, ' It is the maxim of every prudent master of a family never...him more to make than to buy. The tailor does not make his own shoes, but buys them of the shoemaker. The shoemaker does not make his own clothes, but...

...idle or becomes a charge upon the society. In the next two paragraphs Adam Smith argues that " It is the maxim of every prudent master of a family never...home what it will cost him more to make than to buy," and that " What is prudence in the conduct of every private family can scarce be folly in that of a...

...but amplified, and we might almost say perverted, by Sir Robert Peel. ' The tailor,' says Smith, ' does not attempt to make his own shoes, but buys them...shoemaker does not attempt to make his own clothes, but buys them of the tailor.' This merely exemplifies the advantage of division of employments. Pursuing...

...foreign industry, the regulation is evidently useless. If it cannot, it must generally be hurtful. It is the maxim of every prudent master of a family, never...attempt to make his own clothes, but employs a tailor. The farmer attempts to make neither the one nor the other, but employs those different artificers....

...foreign industry, the regulation is evidently useless. If it cannot, it must generally be hurtful. It is the maxim of every prudent master of a family, never...attempt to make his own clothes, but employs a tailor. The farmer attempts to make neither the one nor the other, but employs those different artificers....

...foreign industry, the regulation is evidently useless. If it cannot, it must generally be hurtful. It is the maxim of every prudent master of a family, never...them of the shoemaker. The shoemaker does not attempt lo make his own clothes, but employs a tailor. The farmer attempts to make neither the one nor the...

...sound, and free in every respect from the slightest suggestion of fallacy. This is the passage : "It is the maxim of every prudent master of a family never...attempt to make his own clothes, but employs a tailor. The farmer attempts to make neither the one nor the other, but employs those different artificers....