| | I'd like to add another AS quote, which underscores the importance of savings through parsimony:
"Parsimony, and not industry, is the immediate cause of the increase of capital. Industry, indeed, provides the subject which parsimony accumulates. But whatever industry might acquire, if parsimony did not save and store up, the capital would never be the greater."
The Wealth of Nations, Book II, Chapter III
http://www.adamsmith.org/smith/quotes.htm
Tyson
|
|