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Quote of the Week |
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Say on public consumption
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Jean-Baptiste
Say (1767-1832) in his influential Treatise on Political
Economy (1803) drew a distinction between private and
public consumption, viewing an increase in the latter
as no way to increase public wealth:
What, then, are we to think of the principles laid down by those writers,
who have laboured to draw an essential distinction between public and
private wealth; to show, that economy is the way to increase private
fortune, but, on the contrary, that public wealth increases with the
increase of public consumption: inferring thence this false and dangerous
conclusion, that the rules of conduct in the management of private fortune
and of public treasure, are not only different, but in direct opposition?
[See full quote & previous quotes of the week.]
[For additional reading see our collection 19th
Century French Liberalism]
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