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The Evolution of Modern Capitalism

Note 158 — Chapter VII · ToC

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"What is annually saved is as regularly consumed as what is annually spent, and nearly in the same time too; but it is consumed by a different set of people." (Wealth of Nations, p. 149b, McCulloch.) "Everything which is produced is consumed; both what is saved and what is said to be spent, and the former quite as quickly as the latter." (Principles of Political Economy, Book I., chap. v., sec. 6.)

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