Diminish Quote by Adam Smith
“It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.”
About This Quote
Source Book: The Wealth of Nations by Adam Smith, 1776
Improvement tends to lower the cost of goods over time as production becomes more efficient.
In simple terms: Better production become cheaper.
Key Takeaway
Embrace innovation to reduce costs.
Themes
economics
progress
production
efficiency
prices
Mood
analytical
optimistic
Type
economic
observational
When to use this quote
- business strategy
- consumer pricing
- technology adoption
Key Concepts
industrialization
economies of scale
market dynamics
Questions to Reflect On
- How does innovation affect product pricing?
- What limits can prevent price drops?
A Different Perspective
Cost reductions may lag behind rapid demand spikes.
