Endurance is nobler than strength, and patience than beauty.
John RuskinRead
Large fortunes are all founded either on the occupation of land, or lending or the taxation of labor.
Interpretation
Wealth is primarily derived from land, lending, or taxing work.
This quote by John Ruskin highlights the three main sources of substantial wealth in society: the ownership and exploitation of land, the practice of lending money that generates interest, and the taxation imposed on labor. It suggests that large fortunes are not just a result of individual talent or effort but are deeply rooted in systemic structures related to land use and economic practices.
In practice
In an economic discussion, this quote can help illustrate the foundations of wealth accumulation.
Endurance is nobler than strength, and patience than beauty.
In health of mind and body, men should see with their own eyes, hear and speak without trumpets, walk on their feet, not on wheels, and work and war with their arms, not with engine-beams, nor rifles warranted to kill twenty men at a shot before you can see them.
You talk of the scythe of Time, and the tooth of Time: I tell you, Time is scytheless and toothless; it is we who gnaw like the worm - we who smite like the scythe. It is ourselves who abolish - ourselves who consume: we are the mildew, and the flame.
To be able to ask a question clearly is two-thirds of the way to getting it answered.
See that your children be taught, not only the labors of the earth, but the loveliness of it.
A little thought and a little kindness are often worth more than a great deal of money.
Thus, the same blow that strikes interest down will send wages up.
Capitalism and market forces are very powerful in producing wealth and innovation. But we need to ensure that these forces act in the common interest.
Before the 1970s, banks were banks. They did what banks were supposed to do in a state capitalist economy: they took unused funds from your bank account, for example, and transferred them to some potentially useful purpose like helping a family buy a home or send a kid to college.
A banker who is allowed to borrow money at X and loan it out at X plus Y will just go crazy and do too much of it if the civilization doesn't have rules that prevent it.
I have come to a resolution myself as I hope every good citizen will, never again to purchase any article of foreign manufacture which can be had of American make, be the difference of price what it may.
Money is not capital in most of the developing countries. It's just cash. Because it lacks the institutional, organizational, managerial forms to turn it into capital.
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