Labour Employed Quote by Adam Smith
““But this proportion must in every nation be regulated by two different circumstances: first, by the skill, dexterity, and judgment with which its labour is generally applied; and, secondly, by the proportion between the number of those who are employed in useful labour, and that of those who are not so employed. Whatever be the soil, climate, or extent of territory of any particular nation, the abundance or scantiness of its annual supply must, in that particular situation, depend upon those two circumstances.””
About This Quote
Source Treatise: The Wealth of Nations, 1776
Economic productivity depends on skilled labor and the balance between employed and unemployed, shaping a nation's resource abundance.
In simple terms: Skilled work and employment balance drive a nation's wealth.
Key Takeaway
Invest in skill development and balanced employment.
Themes
economics
labor
productivity
resource management
Mood
analytical
pragmatic
Type
economic
philosophical
When to use this quote
- policy planning
- education reform
- industrial strategy
- resource allocation
Key Concepts
human capital
employment ratios
national wealth
Questions to Reflect On
- What policies can improve labor skill levels?
- How does unemployment affect national resources?
A Different Perspective
Assumes uniform labor conditions across diverse regions.
