The trade of insurance gives great security to the fortunes of private people, and by dividing among a great many that loss which would ruin an indiv… - Adam Smith

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The trade of insurance gives great security to the fortunes of private people, and by dividing among a great many that loss which would ruin an individual, makes it fall light and easy upon the whole society.

English
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About Adam Smith

Adam Smith (16 June 1723 – 17 July 1790) was a Scottish-born economist and philosopher, widely considered the "father of modern economics".

Also Known As

Alternative Names: Smiths
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Additional quotes by Adam Smith

When the act of navigation was made, though England and Holland were not actually at war, the most violent animosity subsisted between the two nations. ... It is not impossible, therefore, that some of the regulations of this famous act may have proceeded from national animosity. They are as wise, however, as if they had all been dictated by the most deliberate wisdom. National animosity at that particular time aimed at the very same object which the most deliberate wisdom would have recommended, the diminution of the naval power of Holland, the only naval power which could endanger the security of England.

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This disposition to admire, and almost to worship, the rich and powerful, and to despise or, at least, neglect persons of poor and mean conditions, though necessary both to establish and to maintain the distinction of ranks and the order of society, is, at the same time, the great and most universal cause of the corruption of our moral sentiments.

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