Feeling a little ambitious? Be careful what you wish for.

Hamlet

Ambition: not to be clowned around with

Here’s a truly sobering passage from the pages of Smith’s Theory of Moral Sentiments. Ambition – or at least an ambition which has run its course – is painted as a kind of living death, and echoes those famous lines from Hamlet: “the dread of something after death, the undiscovered country, from whose bourn no traveller returns”. To achieve your goals can indeed be a fearful thing. It’s no coincidence that Bob Geldof’s autobiography is called, “Is That It?“, published after what must have been a monumental comedown post Live Aid. It’s also possibly the reason why Pulp’s last album was the supremely miserable, “This is Hardcore“, recorded after Jarvis Cocker’s realisation that fighting for what you want for so long, and then getting it, simply resulted in spending lots of time in hotel rooms alone watching films you probably shouldn’t. Even George W. Bush’s surprisingly readable autobiography, “Decision Points“, ends with the sorry post-presidential scene of him picking up poodle poop from his front lawn. Caveat emptor, dude.

‘Love,’ says my Lord Rochfaucault, ‘is commonly succeeded by ambition; but ambition is hardly ever succeeded by love.’ That passion, when once it has got entire possession of the breast, will admit neither a rival nor a successor. To those who have been accustomed to the possession, or even to the hope of public admiration, all other pleasures sicken and decay. Of all the discarded statesmen who for their own ease have studied to get the better of ambition, and to despise those honours which they could no longer arrive at, how few have been able to succeed? The greater part have spent their time in the most listless and insipid indolence, chagrined at the thoughts of their own insignificancy, incapable of being interested in the occupations of private life, without enjoyment, except when they talked of their former greatness, and without satisfaction, except when they were employed in some vain project to recover it. Are you in earnest resolved never to barter your liberty for the lordly servitude of a court, but to live free, fearless, and independent? There seems to be one way to continue in that virtuous resolution; and perhaps but one. Never enter the place from whence so few have been able to return; never come within the circle of ambition; nor ever bring yourself into comparison with those masters of the earth who have already engrossed the attention of half mankind before you.

Adam Smith, The Theory of Moral Sentiments

Competition is the hammer that bangs the drum of growth

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Andrew Carnegie, philanthropist extraordinaire

The price which society pays for the law of competition, like the price it pays for cheap comforts and luxuries, is great; but the advantages of this law are also greater still than its cost – for it is to this law that we owe our wonderful material development, which brings improved conditions in its train. But, whether the law be benign or not, we must say of it: It is here; we cannot evade it; no substitutes for it have been found.

Andrew Carnegie

Who would watch the watchmen?

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The statesman, who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.

Adam Smith, The Wealth of Nations