Adam Smith an Early "Lean Thinker"?


Quotes from Adam Smith – Adam Smith Institute:

“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 promoting that of the consumer.

The Wealth of Nations, Book IV Chapter VIII”

I stumbled across this quote a few years ago and just rediscovered it. The Wealth of Nations was written in 1776. This quote sounds like it could be taken straight from Shingo or Ohno! Sounds like Adam Smith was against the “Waste of overproduction”??

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