Frugality & Industry

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North Vancouver Waterfront

North Vancouver Waterfront

Labour was the first price, the original purchase – money that was paid for all things.  It was not by gold or by silver, but by labour, that all wealth of the world was originally purchased.”

 Adam Smith

Adam Smith (1723-1790), a Scottish moral philosopher best known for his work entitled, “The Wealth of Nations,” said, “No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.”  Benjamin Franklin (1706 – 1790), a contemporary of Adam Smith, believed that frugality and industry were the conduits to acquiring wealth, as an individual and as a nation. “The way to wealth is as plain as the way to market. It depends chiefly on two words, industry and frugality: that is, waste neither time nor money, but make the best use of both. Without industry and frugality nothing will do, and with them everything.”

Humanity thrives on innovation and advancement. Frugality creates the opportunities in which to explore possibilities.  Industry draws on dormant potential to achieve new horizons.

17 thoughts on “Frugality & Industry

    • And I am so glad that we are sharing the dialogue. Your comments and presence are indeed a gift….

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    • You have just made my day more wonderful!!! Your comments and presence are very much appreciated…

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  1. You won’t believe this, but when my daughter was about 14, in the evenings I read Adam Smith’s “Wealth of Nations” out loud to her. I laugh to think about it now… Still it was fun, and I learned as much as she.

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    • Oh my goodness!!!!!! What a bedtime story….you have an amazing daughter!!! I have a feeling that Adam Smith would be very very pleased.

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      • It’s quite interesting, and I think it sure helped put her to sleep!

        We read out loud in the evenings until they were in high school. I still love a book read aloud to me.

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      • I do too!!! That is why I have turned to audio-books! I have “Arguably” by Christopher Hitchens, which is a huge book, so have ordered the audio-book and will read it essay by essay!

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      • Audio books was the only way I could get through Thomas Paine’s “Common Sense” and have primogeniture pounded into my skull. 🙂

        I always wished my blog could be like Montaigne’s Essays, or Blaise Pascal’s Pensees, but those were some big shoes.

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      • They were bloggers before their time. Can you imagine how many would be following them in today’s reality. As to Thomas Paine – I have not had the courage to take on “Common Sense.” Kudos to you!!!!

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  2. I studied in college about Adam Smith. I agree with him and I agree with you ! 🙂

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  3. Great post. Saving, using what we have to the fullest makes total sense. Haste makes waste so does spending too much makes poor.

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    • Thanks for reminding me about “haste makes waste” – I forgot that treasure. Almost as good as a penny saved, is a penny earned.

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