The real and effectual discipline which is exercised over a workman...

Who said "The real and effectual discipline which is exercised over a workman... "?

"The real and effectual discipline which is exercised over a workman... " is one of a famous quotes by Adam Smith. Complete quote is as follows;
"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."

What is "The real and effectual discipline which is exercised over a workman... "?

"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." This is a quote by Adam Smith which is about . He is known to have been associated with numerous other thought provoking quotes on these topics like;

• The heart never grows better by age I fear rather worse, always harder. A young liar will be an old one, and a young knave will only be a greater knave as he grows older.

What does "The real and effectual discipline which is exercised over a workman... " mean?

This quote is primarily about fear although it also includes other themes like . It is attributed to Adam Smith. Complete quote is as follows;
"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."