Employment Quotes
When profit diminishes, merchants are very apt to complain that trade decays; though the diminution of profit is the natural effect of its prosperity, or of a greater stock being employed in it than before.
"When profit diminishes, merchants are very apt to complain that trade decays; though the diminution of profit is the natural effect of its prosperity, or of a greater stock being employed in it than before."— Adam Smith
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Meaning of this quote
Lower profit can accompany expanding competition and investment rather than declining trade.
Key takeaway:
Look at the wider market before interpreting one falling margin.
Origin of the quote
The Wealth of Nations (1776)
Who actually said this?
VerifiedWording located in the primary text; capitalization and punctuation may vary.
Source:
The Wealth of Nations (1776)
