...acting partially by some, and unjustly by others.'The statesman,' says Dr. Smith, 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...

...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...

...by the extent of the market". 63 Ibid., p. 13. 64 Ibid., p. 423: "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...

...more effectually than when he really intends to promote it. ' — '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...

...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...

...view, without knowing their particular situations from the inside: "The statesman, who should attempt to direct private people in what manner they ought to employ their capital, would . . . assume an authority which could safely be trusted, not only to no single person,...

...slightly more than a century after Thomas Mun, Adam Smith wrote:3 To give the monopoly of the home-market to the produce of domestic industry, in any particular...must, in almost all cases, be either a useless or a hurtful regulation It is the maxim of every prudent master of a family, never to attempt to make...

...metaphor of the invisible hand, Smith (ibid., IV.ii.1o, 456) charged: 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...

...self-generate if it is left free from political intervention. Thus the statesman, 'who should attempt to direct private people in what manner they ought to employ their capitals', would very quickly undermine the 'opulence' of the country (1776/1937: 422-3). That is, the self-regulating...

...err in trying to substitute real human hands for invisible ones: The statesman, who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself 23 Adam Smith, The Wealth of Nations, vol. 1, p. 456; all quotations from...