Adam Smith Quotes About Management
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Men desire to have some share in the management of public affairs chiefly on account of the importance which it gives them.
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The directors of such companies, however, being the managers rather of other people's money than of their own, it cannot well be expected, that they should watch over it with the same anxious vigilance with which the partners in a private copartnery frequently watch over their own.... Negligence and profusion, therefore, must always prevail, more or less, in the management of the affairs of such a company.
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As soon as government management begins it upsets the natural equilibrium of industrial relations, and each interference only requires further bureaucratic control until the end is the tyranny of the totalitarian state.
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In the long-run the workman may be as necessary to his master as his master is to him, but the necessity is not so immediate.
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