"We are the lucky heirs of our father and forefathers whose saving has accumulated the capital goods with the aid of which we are working today. We favorite children of the age of electricity still derive advantage from the original saving of the primitive fishermen who, in producing the first nets and canoes, devoted a part of their working time to provision for a remoter future"Reminds me very much of Keynes talking in Economic Possibilities for our Grandchildren about how you can trace England's industrial might back to surpluses of the Elizabethan period.
Tuesday, April 9, 2013
Posted by dkuehn at 6:33 AM
Bob Murphy shares this nice passage from Mises: