Adam Smith：The Wealth of Nations, Book II, Chapter I, Paragraph 706

In all countries where there is a tolerable security, every man of common understanding will endeavour to employ whatever stock he can command, in procuring either present enjoyment or future profit. If it is employed in procuring present enjoyment, it is a stock reserved for immediate consumption. If it is employed in procuring future profit, it must procure this profit either by staying with him, or by going from him. In the one case it is a fixed, in the other it is a circulating capital. A man must be perfectly crazy, who, where there is a tolerable security, does not employ all the stock which he commands, whether it be his own, or borrowed of other people, in some one or other of those three ways.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book II, Chapter I, paragraph 706 · Verified：2026-10-19 · Verification：Exact match

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