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.
Tax breaks and other financial breaks that favor the wealthiest among us do not create greater prosperity for all; they simply siphon off more and more money to those who already have it, and more and more money away from those who do not.
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
Why does a public discussion of economic policy so often show the abysmal ignorance of the participants?
Every coercive monopoly was created by government intervention into the economy: by special privileges, such as franchises or subsidies, which closed the entry of competitors into a given field, by legislative action.
The Federal Reserve, like other central banks, wields powerful tools; democratic accountability requires that the public be able to see how and for what purposes those tools are being used.
Socialism failed because it couldn't tell the economic truth. Capitalism may fail because it couldn't tell the ecological truth.
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