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About this quote

What does it mean?
Prudent decisions that work for a family also apply to a nation. Good sense in private life translates to good governance.
In plain terms
What is wise for a family is also wise for a country.
What can you take from it?
Apply common sense household management to national policy.

Where it applies

  • policy making
  • personal finance
  • leadership

Putting it to work

  • budgeting
  • policy analysis

Questions to consider

  • Is government management like household management?
  • Does wisdom scale?

Another view

Nations face complexities families do not.

More from Adam Smith

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  2. Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for pro…

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  3. What is the species of domestic industry which his capital can employ, and of which the produce is likely to be of the greatest value, every individual, it is …

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