Tuesday, August 24, 2021

The Austere and the Loose

In every civilized society, in every society where the distinction of ranks has once been completely established, there have been always two different schemes or systems of morality current at the same time; of which one may be called the strict or austere; the other the liberal, or, if you will, the loose system. The former is generally admired and revered by the common people: the latter is commonly more esteemed and adopted by what are called people of fashion.

- Adam Smith in The Wealth of Nations

[It is not difficult to find people who preach one system and yet practice the other.]

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