What is the species of domestic industry which his capital can employ, and of which the produce is likely to be the greatest value, every individual, it is evidence, can, in his local situation, judge much better than any statesman or lawgiver can do for him.

The statesman, who should attempt to direct private people in what manner they ought to employ their capitals, would...assume an authority which could safely be trusted, not only to no single person, but to no counsel or senate whatever, and which would nowhere be so dangerous as in the hands of the man who had folly and presumption enough to fancy himself fit to exercise it.

[E]very system which endeavors, either, by extraordinary encouragements, to draw towards a particular species of industry a greater share of the capital of the society than what would naturally go to it; or, by extraordinary restraints, to force from a particular species of industry some share of the capital which would otherwise be employed in it; is in reality subversive of the great purpose which it means to promote. It retards, instead of accelerating, the progress of society towards real wealth and greatness; and diminishes, instead of increasing, the real value of the annual produce of its land and labour.

It is certain that despotism ruins individuals by preventing them from producing wealth, much more than by depriving them of the wealth they have produced: it dries up the source of riches, whilst it usually respects acquired property. Freedom, on the contrary, engenders far more benefits than it destroys; and the nations which are favored by free institutions, invariable find their resources increase even more rapidly than their taxes.