...'Parsimony and not industry', said Adam Smith, 'is the immediate cause of the increase of capital . . . If parsimony did not save and store up, the capital would never be greater.'3 The existence of a capital stock in a community is the result of the produce of past labour...

...thinking beyond the present and some degree of self-denial in the present. 157 Adam Smith stated that "parsimony, and not industry, is the immediate cause of the increase of capital." What is saved from revenue is added to capital and puts an additional quantity of productive resources...

...organizers of wage-laborers? Stored-up treasure drives our economy. Adam Smith said: "Parsimony [saving], and not industry, is the immediate cause of the increase of capital. ... It puts into motion an additional quantity of industry, which gives an additional value to the...

...and not industry [ie dexterity, skills, and industriousness on the part of the agents of production], is the immediate cause of the increase of capital....and store up, the capital would never be the greater (Smith 1981, 337). And, Smith might have added, innovations would be stymied so that no "additional...

...Nations: "Capitals are increased by parsimony, and diminished by prodigality and misconduct. . . . Parsimony, and not industry, is the immediate cause of the increase of capital."49 And yet parsimony is, as we have seen, exactly what a poet such as Pindar deplores. For...

...necessity of its submitting to any privation. Adam Smith, on the other hand, contended that in all cases, parsimony, and not industry, is the immediate cause...not save and store up, the capital would never be greater. parsimony. « Parsimony," he writes, " by increasing the fund which is destined for the maintenance...

...narrative of capital: Capitals are increased by parsimony, and diminished by prodigality and misconduct Parsimony, and not industry, is the immediate cause...subject which parsimony accumulates. But whatever mdustry might acquire, if parsimony did not save and store up, the capital would not be greater. (337)...

...defined more by habits of consumption (thrift) than by relations of production (the division of labor). "Parsimony, and not industry, is the immediate cause of the increase of capital," Adam Smith thought. "Industry, indeed, provides the subject which parsimony accumulates. But whatever...

...argue the question throughout as if it was only proposed to deprive the capitalist of his profit. 15 "Parsimony, and not industry, is the immediate cause...store up, the capital would never be the greater." — Wealth of Nations, MCCULLOCH'S edition, p. 149. 16 As the doctrine is ordinarily stated, the exports...

...economy? As Adam Smith explains in An Inquiry into the Nature and Causes of the Wealth of Nations: "Capitals are increased by parsimony and diminished...provides the subject which parsimony accumulates. But that is the marvelous chimera of collective thinking; things we know would not work in our private...