Edmund Burke: Parsimony Expense

Posted by admin on Wednesday, June 24, 2020

Edmund Burke Money Quote saying Being Miserly Does Not Make One Economical or Frugal. Large expenses may be core to being economical. Edmund Burke said:
 

 

“Mere parsimony is not economy. Expense, and great expense, may be an essential part in true economy” — Edmund Burke

 

 

In this quote, Edmund Burke is making a distinction between mere thriftiness or “parsimony” and true “economy”. He argues that while saving money and avoiding wasteful spending are important principles of economy, large strategic investments and necessary expenses can also be crucial components of sound financial management.

Burke seems to be saying that a policy of strict cost-cutting alone does not necessarily constitute good economy – sometimes substantial outlays are required to achieve greater cost-savings or returns in the long run.

This quote suggests that economy is not just about reducing expenditures, but making balanced choices about where and how much to spend in order to maximize efficient use of resources and minimize costs over the full scope of a project or business.

Birthday: January 12, 1729 – Death: July 9, 1797

Categories: frugality Tagged:economyedmund burkeexpenseparsimony