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”??
What do you think? Scroll down to comment or share your thoughts and the post on social media. Don't want to miss a post or podcast? Subscribe to get notified about posts via email daily or weekly.
Mark Graban is an internationally-recognized consultant, author, and professional speaker who has worked in healthcare, manufacturing, and startups. His latest book is Measures of Success: React Less, Lead Better, Improve More. He is author of the Shingo Award-winning books Lean Hospitals and Healthcare Kaizen, as well as The Executive Guide to Healthcare Kaizen. He also published the anthology Practicing Lean that benefits the Louise H. Batz Patient Safety Foundation, where Mark is a board member. Mark is also a Senior Advisor to the technology company KaiNexus.
Latest posts by Mark Graban (see all)
