Thomas Babington Macaulay: Mint
on Saturday, April 18, 2020Thomas Babington Macaulay Money Quote saying advertisers make a mint while the mint. Thomas Babington Macaulay said:
“Nothing except the mint can make money without advertising” — Thomas Babington Macaulay
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In this quote, Thomas Babington Macaulay seems to be conveying that creating money requires either a government mint that produces currency or private businesses that promote their goods/services through advertising.
By stating that “Nothing except the mint can make money without advertising”, Macaulay implies that while mints have the authority to produce legal tender, other entities in the private sector can only generate income through marketing their offerings to attract paying customers or clients.
The quote conveys Macaulay’s perspective that for non-government organizations, some form of promotion or outreach is necessary to gain awareness, interest and spending from consumers in order to derive revenue, whereas the mint faces no such imperative since it has exclusive power to manufacture money itself.
Overall, Macaulay appears to be acknowledging that while governments can print money by fiat, companies and other non-state actors must advertise to build demand for their products/offerings in order to earn money, since they lack the mint’s direct ability to produce currency and must instead generate income through commercial exchange.