January 27, 2009
Best David Hume Phrase I've Read Today
"...our modern expedient, which has become very general, is to mortgage the public revenues, and to trust that posterity will pay off the incumbrances contracted by their ancestors: And they, having before their eyes, so good an example of their wise fathers, have the same prudent reliance on their posterity; who, at last, from necessity more than choice, are obliged to place the same confidence in a new posterity." David Hume, "Of Public Credit," Essays, Moral, Political, and Literary II.IX.2
Posted by Art Carden at 09:58 AM in
Economics