Charles Babbage: Compound Cash

Charles Babbage Money Quote saying gaining a store of knowledge can be more valuable than gaining accumulation of cash and produces greater gains. Charles Babbage said:
 

 

“Remember that accumulated knowledge, like accumulated capital, increases at compound interest: but it differs from the accumulation of capital in this; that the increase of knowledge produces a more rapid rate of progress, whilst the accumulation of capital leads to a lower rate of interest. Capital thus checks it own accumulation: knowledge thus accelerates its own advance” — Charles Babbage

Charles Babbage is highlighting how knowledge and capital accumulate differently over time. He notes that as knowledge accumulates, the rate of progress accelerates, meaning new discoveries and innovations build upon past knowledge at an ever-faster pace.

In contrast, as capital accumulates, the rate of interest decreases. So the accumulation of capital itself leads to a slowing of future accumulation. In other words, knowledge begets more knowledge in a compounding way, while capital constrains its own growth.

By pointing this out, Babbage seems to be emphasizing the importance of continual learning and knowledge advancement as a driver of long-term social and economic progress.

A little more about Charles Babbage:

Charles Babbage was a British mathematician, philosopher, inventor and mechanical engineer who originated the concept of a programmable computer.

In the early 1800s, he designed the “Analytical Engine,” which had the core components of a modern computer – memory, arithmetic logic, and control.

While it was never completed in his lifetime, the Analytical Engine is considered a pioneering achievement that laid the foundations for later developments in computer engineering.

Babbage is thus widely regarded as a father of the computer, for conceptualizing how algorithms could be processed by a mechanical machine.

Birthday: 26 December 1791 – 18 October 1871

Vladimir Putin: No Foreign Interest

Vladimir Putin Money Quote saying, ironically, that a Russian politician cannot receive help from foreign countries because they would be serving external interests. Vladimir Putin said:
 

“A figure who receives money from abroad for his political work, and thus serves some foreign interest, cannot be a politician in Russia” — Vladimir Putin

In this quote, Russian President Vladimir Putin is expressing the view that politicians in Russia should not accept money from foreign sources for their political work and campaigns. The deeper interpretation is that Putin sees foreign funding of Russian political figures as compromising their independence and loyalty to Russian interests alone.

By receiving financial support from overseas, such politicians could be seen as indirectly “serving” the agenda or strategic goals of foreign governments rather than solely representing Russian citizens. The quote suggests Putin believes Russian politics should be insulated from outside influence by barring politicians from relying on or feeling beholden to donors located abroad.

It reflects his perspective that true Russian politicians must derive all financial backing from domestic sources to avoid any real or perceived conflicts of interest with international powers.

Lucy Stone: Charge Us No Less

Lucy Stone Money Quote saying nobody charges women less for goods or services, yet they earn less income when they work. Lucy Stone said:
 

 

“The flour merchant, the house-builder, and the postman charge us no less on account of our sex; but when we endeavor to earn money to pay all these, then, indeed, we find the interest” — Lucy Stone

In this quote, Lucy Stone seems to be pointing out the double standard and additional challenges that women faced when trying to earn money in the business world during her time. She notes that when women purchase flour, homes or postal services, they pay the same prices as men without issue.

However, she says that “when we endeavor to earn money to pay all these, then, indeed, we find the interest” – suggesting that there are more obstacles, scrutiny or barriers placed upon women specifically when they try to participate in the economy through their own work or businesses.

Stone appears to be highlighting the extra difficulties women faced in making money through their own efforts, despite having to spend it in the same way as men on basic goods and services.

Birthday August 13, 1818 – Died October 18, 1893

Biz Stone: Altruism Paying Interest

Biz Stone Money Quote saying doing good can change your ability to help others and gain interest on the deal. Biz Stone said:
 

 

“The smallest, earliest gifts forever alter your trajectory for doing good. This is what I mean by the compound interest of altruism. Start early to maximize the compound interest in your efforts” — Biz Stone

Birthday March 10

Biz Stone is suggesting that the earliest and smallest acts of kindness can have a profound impact on one’s ability to do good in the world, much like the compound interest of money.

By starting early and consistently giving, one can maximize the positive impact and create a trajectory of doing good that will continue to grow over time.

George Washington: Worry Interest

George Washington Money Quote saying plainly that one should avoid trouble to escape worrying about the outcome. George Washington said:
 

 

“Worry is the interest paid by those who borrow trouble” — George Washington

In this quote, George Washington is commenting on the concept of worrying or borrowing trouble. His interpretation is that worrying unnecessarily about potential future problems is akin to paying interest on a loan that may never even be taken.

Washington seems to be suggesting that worrying often stems from imagining threats or difficulties that haven’t happened yet and may not come to pass.

The overall message appears to be that excessive worrying is a waste of mental energy, since it amounts to paying a cost (interest) for borrowing anxieties (trouble) that one may never have to face or deal with. Washington conveys the perspective that fretting over hypothetical problems is an unproductive exercise that provides no benefit.

Birthday: February 22, 1732 – Death: December 14, 1799

Tay Zonday: Can’t Pay, Poverty + Interest

Tay Zonday Money Quote saying when people are unable to afford preventative health care, complications and disease follow to cost even more. Tay Zonday said:
 

 

“Being poor now just leads to being more poor later. Can’t pay to clean your teeth? Next year, pay for a root canal. Can’t pay for a new mattress? Next year, pay for back surgery. Can’t pay to get that lump checked out? Next year, pay for stage 3 cancer. Poverty charges interest” — Tay Zonday

In this quote, internet celebrity Tay Zonday is highlighting how poverty can become a self-perpetuating cycle due to the “interest” it accrues over time in the form of greater health burdens and costs.

The deeper meaning is that inability to afford basic preventative care when young and healthy often leads to much higher medical bills later on to treat advanced, more serious conditions that could have potentially been avoided.

Zonday’s point is that poverty is expensive, as the lack of means to pay for small things up front can transform into needing to pay for major interventions down the road due to deteriorating health. T

he quote underscores how financial hardship has ripple effects that make it increasingly difficult to escape over the long run without intervention to break this cycle of accumulating health “debt” tied to lack of access and resources.

Being poor now just leads to being more poor later. Can't pay to clean your teeth? Next year, pay for a root canal. Can't pay for a new mattress? Next year, pay for back surgery. Can't pay to get that lump checked out? Next year, pay for stage 3 cancer. Poverty charges interest.

— Tay Zonday (@TayZonday) July 19, 2018

Proverbs: Wealth by Exorbitant Interest

Proverbs Bible Money Quote saying those who overcharge for the use of money will be stripped of the wealth they gain and benefit the poor. Proverbs 28:8 said:
 

 

“He who increases his wealth by exorbitant interest amasses it for another, who will be kind to the poor” — Proverbs 28:8

This verse from Proverbs is providing a caution against accumulating wealth through exploitative or excessive interest on loans. It suggests that anyone who enriches themselves by charging exorbitantly high rates of interest on money lent will not ultimately keep that wealth for themselves, since God will ensure it ends up assisting “the poor” instead.

The verse implies that wealth gained through unjust means like predatory lending at very high interest rates is not a legitimate form of profit and accumulation, and such ill-gotten riches will not remain in the hands of the greedy lender but will ultimately benefit the disadvantaged instead as a form of divine justice.

Thomas Edison: Government Debt Brokers

Thomas A. Edison Money Quote saying that bankers are controlling the national wealth (and debt) by charging the government interest while contributing nothing. Thomas A. Edison said:
 

 

“It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges at the hands of men who control the fictitious value of gold” — Thomas A. Edison

Thomas A. Edison is criticizing the way monetary policy was tied to the gold standard at the time. His point is that by basing the value of currency on gold, whose worth could be manipulated, it forced governments like the U.S. to take on debt at high interest rates controlled by those who set gold’s artificial price.

Edison suggests this put nations in a “terrible situation” of being financially beholden to such moneyed interests. He implies tying the wealth and stability of countries to an arbitrarily valued commodity like gold was misguided and resulted in governments having to pay exorbitant “ruinous interest charges” on loans.

The quote reflects Edison’s view that this gold-backed economic system impaired national fiscal health and autonomy.

Birthday: February 11, 1847 – Death: October 18, 1931