...private profit, which is only an efficient cause, a motivating force. This principle was described as 'so perfectly self-evident that it would be absurd to attempt to prove it'.47 But, indeed, it was not so self-evident, and Smith addressed some of his sharp criticisms towards...

...arc unwilling, however, that any part of this small number should go abroad to instruct foreigners, Consumption is the sole end and purpose of all production;...absurd to attempt to prove it. But in the mercantile stystem, the interest of the consumer is almost constantly sacrificed to that of the producer; and...

...than we ourselves can make it, better buy it of them."9 This is the core of Smith's economic theory: "Consumption is the sole end and purpose of all production;...necessary for promoting that of the consumer. The problem is that the system of mercantilism "seems to consider production, and not consumption, as the...

...prices. Monopoly of one kind or another, indeed, seems to be the sole engine of the mercantile system. Consumption is the sole end and purpose of all production;...may be necessary for promoting that of the consumer. ... But in the mercantile system, the interest of the consumer is almost constantly sacrificed to that...

...participated in the market economy.19 Market production was always to be driven by consumer demand. For Smith, "consumption is the sole end and purpose of all production;...far as it may be necessary for promoting that of the consumer."20 This belief that the satisfaction of consumer demand was the sole goal of production was...

...David Ricardo, and focus on the benefits to consumers of import competition. Indeed, he notes that: Consumption is the sole end and purpose of all production;...interest of the producer ought to be attended to, 9 Speeches on Question of Public Policy by Richard Cobden, MP (Pub. T. Fisher, Unwin, 1870), Free Trade,...

...customer who was always right took hold, as Adam Smith recognized in The Wealth of Nations in 1776: 'consumption is the sole end and purpose of all production; and the interests of the producer ought to be attended to, only in so far as it may be necessary for promoting...