Quote by Adam Smith

The real and effectual discipline which is exercised over a workman is that of his customers. It is the fear of losing their employment which restrains his frauds and corrects his negligence.

The real and effectual discipline which is exercised over a

Summary

This quote suggests that the most effective way to discipline and motivate a worker is through the power of customer demand. The fear of losing customers and, consequently, their source of income, compels the worker to behave ethically and diligently. It implies that the profit-driven nature of the market serves as a restraints on fraudulent practices and negligence, as workers are incentivized to prioritize the satisfaction and trust of their customers.

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