Expense, and great expense, may be an essential part in…
“Expense, and great expense, may be an essential part in true economy. If parsimony were to be considered as one of the kinds of that virtue, there is, however, another and a higher economy. Economy is a distinctive virtue, and consists not in saving, but in selection.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
True economic virtue lies in discerning valuable choices, not merely frugality; selection is a higher form of prudence.
In simple terms: Economy is about choosing wisely, not just saving.
Key Takeaway
Prioritize thoughtful selection over mere thrift.
Themes
economics
virtue
selection
prudence
philosophy
Mood
analytical
thoughtful
inquisitive
Type
philosophical
economic
When to use this quote
- budgeting
- investment strategy
- policy making
- personal finance
Key Concepts
decision theory
value theory
resource allocation
Questions to Reflect On
- How do we balance selection with necessary savings?
- When is frugality more virtuous than selection?
A Different Perspective
The concept may undervalue the importance of saving in certain contexts.