--- title: "Meaning & Key Takeaway of: The fact that previous generations have…" description: "\"The fact that previous generations have handed down to us a substantial public heritage by way of roads, port, etc. almost completely free of debt, see..." image: "https://sms4smile.com/quotes/i/e75/john-james-cowperthwaite-26791_borrowing_the-fact-that-previous-generations-have_2583693.jpg" --- # The fact that previous generations have handed down to us… ![“The fact that previous generations have handed down to us a substantial public heritage by way of roads, port, etc. almost completely free of debt, seems to me to impose some limitation on the validity of the theory that by borrowing we should, or could, pass on the burden of development to the…” quote by John James Cowperthwaite](https://sms4smile.com/quotes/i/e75/john-james-cowperthwaite-26791_borrowing_the-fact-that-previous-generations-have_2583693.jpg) [Download](https://sms4smile.com/quotes/i/e75/john-james-cowperthwaite-26791_borrowing_the-fact-that-previous-generations-have_2583693.jpg) [Open image](https://sms4smile.com/quotes/i/e75/john-james-cowperthwaite-26791_borrowing_the-fact-that-previous-generations-have_2583693.jpg) > “The fact that previous generations have handed down to us a substantial public heritage by way of roads, port, etc. almost completely free of debt, seems to me to impose some limitation on the validity of the theory that by borrowing we should, or could, pass on the burden of development to the next generation.” [John James Cowperthwaite](https://sms4smile.com/quotes/author/john-james-cowperthwaite/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The speaker argues that because past generations built public infrastructure largely debt‑free, it challenges the idea that borrowing is a justified way to shift development costs to future generations. **In simple terms:** Debt‑free past infrastructure questions borrowing for future projects. Key Takeaway Consider the long‑term impact of public debt. Themes economics public policy intergenerational equity fiscal responsibility Mood analytical critical Type philosophical policy When to use this quote - urban planning - budgeting - policy making - infrastructure development Key Concepts Fiscal sustainability government borrowing Questions to Reflect On - Is it always better to avoid debt for public projects? - How can we balance current needs with future burdens? A Different Perspective Borrowing can still be necessary for urgent needs despite past debt‑free successes. ★ ★ ★ ★ ★ No ratings yet [Borrowing](https://sms4smile.com/quotes/about/borrowing/) [Burden](https://sms4smile.com/quotes/about/burden/) [Debt](https://sms4smile.com/quotes/about/debt/) [Development](https://sms4smile.com/quotes/about/development/) [Etc](https://sms4smile.com/quotes/about/etc/) [Facts](https://sms4smile.com/quotes/about/facts/) [Free Debt](https://sms4smile.com/quotes/about/free-debt-1799598/) [Generations](https://sms4smile.com/quotes/about/generations/) [Generations Handed](https://sms4smile.com/quotes/about/generations-handed-1799597/) [Heritage](https://sms4smile.com/quotes/about/heritage/) [Limitation](https://sms4smile.com/quotes/about/limitation/) [Next](https://sms4smile.com/quotes/about/next/) [Next generation](https://sms4smile.com/quotes/about/next-generation/) [Port](https://sms4smile.com/quotes/about/port/) [Previous generations](https://sms4smile.com/quotes/about/previous-generations/) [Public Heritage](https://sms4smile.com/quotes/about/public-heritage-1799599/) [Seems](https://sms4smile.com/quotes/about/seems/) [Should](https://sms4smile.com/quotes/about/should/) [Theory](https://sms4smile.com/quotes/about/theory/) [Validity](https://sms4smile.com/quotes/about/validity/) [Way](https://sms4smile.com/quotes/about/way/) ## Related quotes > [I have two amazing things in my life: I'm pain-free and I'm debt-free.](https://sms4smile.com/quotes/stephen-king/i-have-two-amazing-things-in-my-life-i-m-pain-free-and-i-m-debt-free/) [Stephen King](https://sms4smile.com/quotes/author/stephen-king/) > [Deficit financing proper is rather the process whereby a Government spends more money that it withdraws from the economy by taxation, borrowing, running down…](https://sms4smile.com/quotes/john-james-cowperthwaite/deficit-financing-proper-is-rather-the-process-whereby-a-government/) [John James Cowperthwaite](https://sms4smile.com/quotes/author/john-james-cowperthwaite/) > [When I was nine I spent a lot of my time reading books about the history of comedy, or listening to the Goons or…](https://sms4smile.com/quotes/paul-merton/when-i-was-nine-i-spent-a-lot-of-my-time-reading-books-about-the/) [Paul Merton](https://sms4smile.com/quotes/author/paul-merton/) > [“I am a member of the “career-less generation.” Or the “screwed generation.” Unlike previous generations, the members of my generation won’t get jobs and…](https://sms4smile.com/quotes/ken-ilgunas/i-am-a-member-of-the-career-less-generation-or-the-screwed-generation/) [Ken Ilgunas](https://sms4smile.com/quotes/author/ken-ilgunas/) > [The best advice that I can give you is this. 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There are limitations to our physical…](https://sms4smile.com/quotes/john-james-cowperthwaite/money-cannot-be-converted-into-houses-or-trained-teachers-or/) [John James Cowperthwaite](https://sms4smile.com/quotes/author/john-james-cowperthwaite/) > [One trouble is that when Government gets into a business it tends to make it uneconomic for anyone else.](https://sms4smile.com/quotes/john-james-cowperthwaite/one-trouble-is-that-when-government-gets-into-a-business-it-tends-to/) [John James Cowperthwaite](https://sms4smile.com/quotes/author/john-james-cowperthwaite/) > [I would suggest to my honourable Friend that the foreign investor is at least as discouraged by high national debt for that, as all…](https://sms4smile.com/quotes/john-james-cowperthwaite/i-would-suggest-to-my-honourable-friend-that-the-foreign-investor-is/) [John James Cowperthwaite](https://sms4smile.com/quotes/author/john-james-cowperthwaite/) [Explore all 21 John James Cowperthwaite quotes ](https://sms4smile.com/quotes/author/john-james-cowperthwaite/) ## More Borrowing quotes > [I would borrow money all day long, if the cost of borrowing is less than the expected return.](https://sms4smile.com/quotes/brad-schneider/i-would-borrow-money-all-day-long-if-the-cost-of-borrowing-is-less/) [Brad Schneider](https://sms4smile.com/quotes/author/brad-schneider/) > [ When the fountains of government \[borrowing\] abundance began to dry up, when through lack of funds and the impossibility of negotiating fresh loans the… ](https://sms4smile.com/quotes/john-t-flynn/when-the-fountains-of-government-borrowing-abundance-began-to-dry-up/) [John T. 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Art criticism has long been…](https://sms4smile.com/quotes/james-elkins/perhaps-art-criticism-cannot-be-reformed-in-a-logical-sense-because/) [James Elkins](https://sms4smile.com/quotes/author/james-elkins/) > [It’s always going to be easy to live like others or other’s life, because creating or innovating something of own is always difficult in…](https://sms4smile.com/quotes/anuj/it-s-always-going-to-be-easy-to-live-like-others-or-other-s-life/) [Anuj](https://sms4smile.com/quotes/author/anuj/) > [A poet ought not to pick nature's pocket. Let him borrow, and so borrow as to repay by the very act of borrowing. Examine…](https://sms4smile.com/quotes/samuel-taylor-coleridge/a-poet-ought-not-to-pick-nature-s-pocket-let-him-borrow-and-so-borrow/) [Samuel Taylor Coleridge](https://sms4smile.com/quotes/author/samuel-taylor-coleridge/) > [Several southern actors are coming to Mumbai. 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We're borrowing a million dollars a minute.](https://sms4smile.com/quotes/rand-paul/we-do-not-project-power-from-bankruptcy-court-we-re-borrowing-a/) [Rand Paul](https://sms4smile.com/quotes/author/rand-paul/) [Browse all 303 Borrowing quotes ](https://sms4smile.com/quotes/about/borrowing/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "The fact that previous generations have handed down to us a substantial public heritage by way of roads, port, etc. almost completely free of debt, seems to me to impose some limitation on the validity of the theory that by borrowing we should, or could, pass on the burden of development to the next generation.", "creator": { "@type": "Person", "name": "John James Cowperthwaite" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/john-james-cowperthwaite/the-fact-that-previous-generations-have-handed-down-to-us-a/", "about": { "@type": "Thing", "name": "Borrowing" }, "@id": "https://sms4smile.com/quotes/john-james-cowperthwaite/the-fact-that-previous-generations-have-handed-down-to-us-a/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/e75/john-james-cowperthwaite-26791_borrowing_the-fact-that-previous-generations-have_2583693.jpg", "contentUrl": "https://sms4smile.com/quotes/i/e75/john-james-cowperthwaite-26791_borrowing_the-fact-that-previous-generations-have_2583693.jpg", "url": "https://sms4smile.com/quotes/i/e75/john-james-cowperthwaite-26791_borrowing_the-fact-that-previous-generations-have_2583693.jpg", "width": 1080, "height": 1080, "caption": "“The fact that previous generations have handed down to us a substantial public heritage by way of roads…” — John James Cowperthwaite", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "John James Cowperthwaite", "item": "https://sms4smile.com/quotes/author/john-james-cowperthwaite/" }, { "@type": "ListItem", "position": 4, "name": "The fact that previous generations have...", "item": "https://sms4smile.com/quotes/john-james-cowperthwaite/the-fact-that-previous-generations-have-handed-down-to-us-a/" } ], "@id": "https://sms4smile.com/quotes/john-james-cowperthwaite/the-fact-that-previous-generations-have-handed-down-to-us-a/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```