What quote from Smith shows that he believes government has no right to interfere with ………?

……….private economic decisions?
"No regulation of commerce can increase the quantity of industry in any society beyond what its capital can maintain. It can only divert a part of it into a direction into which it might not otherwise have gone; and it is by no means certain that this artificial direction is likely to be more advantageous to the society than that into which it would have gone of its own accord."

"Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society, which he has in view. But, the study of his own advantage naturally, or rather necessarily, leads him to prefer that employment which is most advantageous to the society."

"The consideration of his own private profit is the sole motive which determines the owner of any capital to employ it either in agriculture, in manufactures, or in some particular branch of the wholesale or retail trade. The different quantities of productive labour which it may put into motion, and the different values which it may add to the annual, produce of the land and labour of the society . . . never enter into his thoughts. In countries, therefore, where agriculture is the most profitable of all employments, and farming and improving the most direct roads to a splendid fortune, the capitals of individuals will naturally be employed in the manner most advantageous to the whole society."

"The statesman, who would attempt to direct private people in what manner they ought to employ their capitals, would . . . assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever…."

2 Responses to “What quote from Smith shows that he believes government has no right to interfere with ………?”

  1. Anon_204 Says:

    I thing its #4 as well.

    Smith only mentions the governments specifically in #1 and #4. In #1, he is speaking more about the impossibility of improving on a market derived outcome. In #4 though, he expressly mentions statement assuming an authority over a process no one should be able to claim.

  2. desotobrave Says:

    The fourth one.