Quotations about   income

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Why is austerity in a depressed economy a bad idea? Because an economy is not like a household, whose income and spending are separate things. In the economy as a whole, my spending is your income and your spending is my income. What happens if everyone tries to cut spending at the same time, as was the case in the aftermath of the financial crisis? Everyone’s income falls.

Paul Krugman (b. 1953) American economist, author
“The Legacy of Destructive Austerity,” New York Times (20 Dec 2019)
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Added on 19-Jul-21 | Last updated 19-Jul-21
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The art of living easily as to money, is to pitch your scale of living one degree below your means.

Henry Taylor (1800-1886) English dramatist, poet, bureaucrat, man of letters
Notes from Life, “Of Money” (1853)
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Added on 12-Sep-17 | Last updated 12-Sep-17
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All progress is based upon a universal innate desire on the part of every organism to live beyond its income.

Samuel Butler (1835-1902) English novelist, satirist, scholar
The Note-Books of Samuel Butler, ch. 1 “Life” (1912)
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Added on 1-Feb-04 | Last updated 5-Sep-19
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