...operated his business on the principles advocated by the old philosopher Adam Smith in 1755 when he said "Consumption is the sole end and purpose of all production, and the interest of the producers ought to be attended to only in so far as it may be necessary for protecting the interests...

...point. While dealing largely with production, Smith started from the standpoint of the consumer : " Consumption is the sole end and purpose of all production,...be necessary for promoting that of the consumer." i Though sometimes overlooked or unexpressed, this has been the ultimate standpoint of the pure English...

...go abroad to instruct foreigners. Consumption is the sole end and purpose of all production}^; an3 the interest of the producer ought to be attended...prove it. But in the mercantile system the interest o/ the consumer is almost constantly sacrificed to thaTbFfEe .producer; and it seems to consider product1on,...

...ibid., IV, 78: "Production is primarily for the mouth, not for the granary." < Op. cit., IV, chap, viii: "Consumption is the sole end and purpose of all production;...be necessary for promoting that of the consumer." 5 For reference and Greek terms, cf. p. 68. 6 For his term &<j>op/j.-/i, cf . p. 68, n. 8, and infra....

...ibid., IV, 78: "Production is primarily for the mouth, not for the granary." *Op. cit., IV, chap. viii: "Consumption is the sole end and purpose of all production;...be necessary for promoting that of the consumer." 5 For reference and Greek terms, cf. p. 68. 6 For his term афорц^, cf. p. 68, n. 8, and infra....

...generally treated by English writers in connection with production. "Consumption," says Adam Smith, "is the sole end and purpose of all production, and...may be necessary for promoting that of the consumer. " Later criticism has thrown doubt on the possibility of making such a sharp distinction between the...

...this case, is so plainly sacrificed to the interests of our merchants and manufacturers. II. 169. 26. "Consumption is the sole end and purpose of all production;...interest of the producer ought to be attended to, so far as it may be necessary for promoting that of the consumer. "The maxim is so perfectly self-evident,...

...of our merchants and manufacturers. Similarly it is a grave offence to entice an artificer abroad, The laudable motive of all these regulations, is to...interest of the producer ought to be attended to, only so &r as it may be necessary for promoting that of the consumer. The maxim is so perfectly self-evident,...

...Unto This Last, pp. 144, 150, 155. the work of his predecessors. ' Consumption ', wrote Adam Smith, ' is the sole end and purpose of all production ; and...perfectly self-evident that it would be absurd to prove it.' It was, indeed, one of the main counts in Adam Smith's indictment of the mercantilists that...

...with a surplus of production over consumption (Principles, p. 117). Adam Smith said: »Consumptioii is. the sole end and purpose of all production; and the interest of the produccr ought to be attended to, only so far äs it may be necessary for promoting that of the 'consumer....