Wealth and our economy

By
Real Estate Agent with Lisa Von Domek Team TX License #0552989

 

What is wealth?

 I thought I would share this quote from Adam Smith on wealth:

 “Whatever a person saves from his revenue he adds to his capital, and either employs it himself in maintaining an additional number of productive hands, or enables some person to do so…for a share of profits.  As the capital of an individual can be increased only by what he saves…so the capital of a society can be increased only in the same manner.”

Adam Smith       

 

Adam Smith (baptised 16 June 1723 – died 17 July 1790 [OS: 5 June 1723 – 17 July 1790]) was a Scottish social philosopher and a pioneer of political economy.

 

 

A great commentary on our current economy and what (I believe) is needed to turn America back on the right track.  Capitalism is what helped make our country the greatest nation in the world.  Self-reliance and pride in one’s own achievements are two of the personality traits that must be rediscovered.

 

 

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Comments (2)

Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

I'm with you on this.....people who wait and live on the government's handouts totally miss the boat.  It creates such a bad culture.  Self-accomplishments and achievements build confidence and invariably the opportunity to employ more.  Good words!

Jun 27, 2011 02:51 AM
Bill Blankenship
Lisa Von Domek & Associates, LLC / Real Living Real Estate Group - Midlothian, TX

A great commentary on our current economy and what (I believe) is needed to turn America back on the right track.  Capitalism is what helped make our country the greatest nation in the world.  Self-reliance and pride in one's own achievements are two of the personality traits that must be rediscovered.

Jul 03, 2011 01:21 AM