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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
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Interpretation

What this quote means

Prudence, or cautiousness, in financial and resource management is essential for both families and nations.

In this quote, Adam Smith emphasizes that the principles of prudence—careful management and decision-making—should be applied not only to the affairs of individual families but also to the governance of larger entities such as nations. The implication is that sound judgment and caution are virtues that contribute to the prosperity of all levels of society.

Themes

PrudenceFamilyKingdomManagementCaution

In practice

Example use cases

During a lecture on economic policies, one might quote this to emphasize the importance of careful fiscal planning.

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Defense is superior to opulence.
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