Resentment seems to have been given us by nature for a defense, and for a defense only! It is the safeguard of justice and the security of innocence.
Adam SmithRead
The real and effectual discipline which is exercised over a workman is that of his customers. It is the fear of losing their employment which restrains his frauds and corrects his negligence.
Interpretation
Customers play a crucial role in regulating a worker's performance through the fear of job loss.
Adam Smith highlights the importance of accountability in the workplace, suggesting that the true discipline imposed on workers comes not from their employers but from the expectations of their customers. The fear of losing their job drives workers to maintain integrity and diligence, as their livelihood depends on satisfying the needs of those they serve.
In practice
In a business presentation to emphasize the importance of customer feedback.
Resentment seems to have been given us by nature for a defense, and for a defense only! It is the safeguard of justice and the security of innocence.
It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.
Wherever there is great property, there is great inequality.
This is one of those cases in which the imagination is baffled by the facts.
Defense is superior to opulence.
I have never known much good done by those who affected to trade for the public good.
Really, the proper study of economics is fulfilment, not consumption... It doesn't even matter if it's a green product or a green house... It's still consumption. What matters in this world is the fulfilment of people's needs and the fulfilment of their aspirations.
Not only do unemployment benefits help families who are hurting; they also put money into their pockets that they'll then spend - and their spending will keep other Americans in jobs.
There is a broad consensus, not only in the United States but in most of the world, that if you are in an economic downturn, you need to stimulate. Germany seems to be an exception.
One-sided national economic triumphs cannot be achieved in the increasingly interwoven global economy without precipitating calamitous consequences for everyone.
The introduction of a substantial Government transfer tax on all transactions might prove the most serviceable reform available,with a view to mitigating the predominance of speculation in the United States.
The economic dynamic in Zimbabwe is perversely robust: while ordinary people suffer, black-market dealers and people with foreign bank accounts prosper, making them powerful stakeholders in the perpetuation of devastating economic policies.
Subscribe for the occasional hand-picked quote. No noise.