Will Durant on Prioritized Hoarding
on Monday, March 17, 2014Will Durant Money Quote saying finance folks know that time brings inflation and wisdom dictates that money stay in circulation. Will Durant said:
“Bankers know that history is inflationary and that money is the last thing a wise man will hoard” — Will Durant
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Will Durant is suggesting that bankers understand from studying history that currency tends to lose value over time due to inflation. He says that a wise person will not excessively accumulate money and hoard it, since its purchasing power is likely to diminish as inflation rises.
Durant seems to be advising against viewing money as the primary goal or measure of success, and instead focusing on more meaningful pursuits that create lasting value rather than temporary wealth that could be eroded by inflation.
His quote implies that history shows money is not a secure long-term store of value, so it’s not prudent to prioritize its accumulation above all else.
Birthday: November 5, 1885 – Death: November 7, 1981