Able Quote by Thomas Malthus
“When Hume and Adam Smith prophesied that a little increase of national debt beyond the then amount of it, would probably occasion bankruptcy; the main cause of their error was the natural one, of not being able to see the vast increase of productive power to which the nation would subsequently obtain.”
About This Quote
Source Essay: "On the Nature of National Debt", 1798
Early economists misjudged debt impact, ignoring future productive growth.
In simple terms: Debt seen as harmful, but can boost productivity.
Key Takeaway
Consider long‑term benefits of debt.
Themes
economics
debt
growth
Mood
analytical
cautious
Type
historical
theoretical
When to use this quote
- policy making
- national budgeting
- investment planning
Key Concepts
classical economics
productive capacity
Questions to Reflect On
- When does debt become dangerous?
- How to balance debt and growth?
A Different Perspective
May understate risk.
![“Reason and free inquiry are the only effectual agents against error... They are the natural enemies of error, and of error only... If [free enquiry] be restrained now, the present corruptions will be protected, and new ones encouraged.” quote by Thomas Jefferson](https://sms4smile.com/quotes/img-quotes/645/thomas-jefferson-43_agents_reason-and-free-inquiry-are-the-only-eff_1546896.jpg)
![“[P]opulation, when unchecked, goes on doubling itself every twenty-five years, or increases in a geometrical ratio. ... [T]he means of subsistence, under circumstances the most favorable to human industry, could not possibly be made to increase faster than in an arithmetical ratio.” quote by Thomas Malthus](https://sms4smile.com/quotes/img-quotes/16b/thomas-malthus-7621_circumstances_p-opulation-when-unchecked-goes-on-doubl_324443.jpg)
