Abraham Flexner: Borrow Billions

Abraham Flexner Money Quote saying some countries are borrowing for wars but few borrow for educational purposes. Abraham Flexner said:
 
 

 

“Nations have recently been led to borrow billions for war; no nation has ever borrowed largely for education… no nation is rich enough to pay for both war and civilization. We must make our choice; we cannot have both” — Abraham Flexner

In this quote, Abraham Flexner is drawing a comparison between the massive spending on warfare versus investment in education. His interpretation is that while countries are willing to take on enormous debts to fund wars and military campaigns, they have never shown the same commitment to borrowing vast sums long-term to develop education systems and advance civilization.

Flexner seems to be arguing that nations must consciously choose to prioritize either war spending or education/civilization spending, since devoting large resources to both simultaneously is not financially sustainable or prudent. His view is that full support cannot be given to both war and education aims given budget constraints, so societies must decide which goal deserves greater long-term backing and commitment through public funds.

The overall message conveyed is that higher education requires more robust and consistent long-term financial support relative to short-term military spending priorities.

Abraham Flexner background:

Abraham Flexner was an American educator and educational reformer in the early 20th century. He is best known for his 1910 report that criticized the standards of medical education in the United States and Canada, leading to major reforms. Flexner advocated for establishing high-quality professional education and helped advance the modern research university model.

In the quote, Flexner is drawing on his background in education reform to argue that countries prioritize funding wars over long-term investment in developing strong education systems, and that devoting massive resources to both goals simultaneously is unsustainable given budget constraints.

Birthday: November 13, 1866 – Death: September 21, 1959

William J. H. Boetcker: You Cannot

William J. H. Boetcker Money Quote saying you cannot accomplish anything by focusing on its’ opposite action or quality. William J. H. Boetcker said:
 

 

“You cannot bring prosperity by discouraging thrift. You cannot help small men by tearing down big men. You cannot strengthen the weak by weakening the strong. You cannot lift the wage earner by pulling down the wage payer. You cannot help the poor man by destroying the rich. You cannot keep out of trouble by spending more than your income. You cannot further brotherhood of men by inciting class hatred. You cannot establish security on borrowed money. You cannot build character and courage by taking away man’s initiative and independence. You cannot help men permanently by doing for them what they could and should do for themselves” — William J. H. Boetcker

William J. H. Boetcker is making several points about economic and social policies. He argues that prosperity cannot be achieved by discouraging habits like thrift and savings. Weakenening the strong does not help the weak, and hurting the rich does not help the poor. Spending more than one’s income leads to trouble.

Promoting class hatred harms brotherhood. And people cannot become self-reliant or build character if their initiative and independence are taken away by doing things for them that they could do for themselves.

Overall, Boetcker is advocating for individual responsibility, limited government intervention, and not implementing policies that harm or weaken certain groups in a misguided effort to help others. He believes societies are best served by encouraging virtues like thrift, hard work, self-sufficiency and bringing people together rather than dividing them.

The best interpretation of William J. H. Boetcker’s quote is that sustainable societal progress comes from empowering individuals and promoting personal responsibility, rather than through policies that redistribute wealth or weaken successful entities. Boetcker argues that true prosperity and social improvement cannot be achieved by discouraging positive traits like thrift, independence, and initiative.

He emphasizes that helping the less fortunate should not come at the expense of tearing down the successful, and that lasting change comes from creating opportunities for people to help themselves rather than fostering dependence.

Birthday: July 16, 1873 – Death: April 27, 1962

James Joyce: Borrowed Transaction

James Joyce Money Quote saying in the novel ‘Dubliners’ that a character drank a lot and was always borrowing cash from shady types. James Joyce said:
 

“Of course, he did mix with a rakish set of fellows at that time, drank freely and borrowed money on all sides. In the end he had got mixed up in some shady affair, some money transaction” — James Joyce

James Joyce is describing someone who got into a difficult situation due to irresponsible behavior involving money and associations with untrustworthy people. The quote suggests the person drank heavily and borrowed money frequently from different sources, implying a lack of financial discipline.

Joyce notes this individual became “mixed up in some shady affair, some money transaction”, indicating their reckless actions and questionable dealings eventually entangled them in a problematic circumstance related to money.

The overall interpretation is that Joyce used this passage to portray how overindulgence in alcohol and debt, combined with involvement in dubious financial schemes through disreputable social contacts, can lead one astray into compromised or compromising monetary circumstances.

Birthday February 2, 1882 – Death: January 13, 1941

Warren Buffett: Trump Terrific at Borrowing

Warren Buffett Money Quote saying Donald Trump is more interested in ostentatious display than equity and fairness in real estate and got overextended. Warren Buffett said:
 
 

 

“Where did Donald Trump go wrong? The big problem with Donald Trump was he never went right. He basically overpaid for properties, but he got people to lend him the money. He was terrific at borrowing money. If you look at his assets, and what he paid for them, and what he borrowed to get them, there was never any real equity there” — Warren Buffett

In this quote, Warren Buffett is criticizing Donald Trump’s past business practices related to borrowing money. Buffett says that Trump became too focused on how much money he could borrow from lenders, without properly considering whether he would be able to repay what he owed.

According to Buffett, this over-reliance on borrowed funds, or “leverage,” ultimately led to some of Trump’s business failures. Overall, Buffett is warning about the risks of taking on too much debt without having a clear plan for how to service and repay that debt over time.

William Boetcker on Leveraged Security

William J. H. Boetcker Money Quotation saying Borrowing security is eventually owed to another power. William J. H. Boetcker said:
 

 

“You cannot establish sound security on borrowed money” — William J. H. Boetcker

William J. H. Boetcker is saying that true financial security cannot be built on debt or money that has been borrowed. His point is that depending on loans and credit to fund one’s security needs is unstable and risky, because there are obligations to repay the borrowed sums. One is vulnerable if unable to make payments.

However, if security is established through savings, investments and assets that have not been acquired through borrowing, then the security is on a sounder foundation that is not contingent on future ability to service debt.

Boetcker is advocating for financial security based on one’s own means rather than relying on money owed to others, which introduces uncertainty and potential insecurity if repayments cannot be sustained.

Birthday: July 16, 1873 – Death: April 27, 1962