Thursday, April 16, 2009

Say On Production

"How great, then, must be the mistake of those, who, on observing the obvious fact, that the production always equals the consumption, as it must necessarily do, since a thing can not be consumed before it is produced, have confounded the cause with the effect, and laid it down as a maxim, that consumption originates production; therefore that frugality is directly adverse to public prosperity, and that the most useful citizen is the one who spends the most." -- Jean-Baptiste Say