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Communication Quote by William Graham Sumner

“The waste of capital, in proportion to the total capital, in this country between 1800 and 1850, in the attempts which were made to establish means of communication and transportation, was enormous.” quote by William Graham Sumner
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“The waste of capital, in proportion to the total capital, in this country between 1800 and 1850, in the attempts which were made to establish means of communication and transportation, was enormous.”

William Graham Sumner

About This Quote

A large portion of capital was wasted on failed attempts to build communication and transportation infrastructure between 1800‑1850.

In simple terms: Much money was lost on unsuccessful transport and communication projects in the early 19th century.

Key Takeaway

Invest wisely in infrastructure.

Themes

economics history resource allocation

Mood

cautious analytical

Type

historical economic

When to use this quote

  • government budgeting
  • private investment decisions

Key Concepts

capital inefficiency technological optimism

Practical Applications

  • evaluate project feasibility before funding

Questions to Reflect On

  • What criteria would improve project selection?
  • How can we balance innovation with prudence?
A Different Perspective

Risk of repeating past waste

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