William Beveridge: Master of Money

Posted by admin on Thursday, May 5, 2022

William Beveridge Money Quote saying that in an open and free society that the government can only control the money. William Beveridge said:
The state is or can be master of money, but in a free society it is master of very little else Quote

“The state is or can be master of money, but in a free society it is master of very little else” — William Beveridge


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William Beveridge was a British economist who helped establish the welfare state in Britain. In this quote, he seems to be making a point about limiting the power and scope of the state in a free society.

Specifically, he acknowledges that the state has significant control over monetary policy and the money supply. However, he argues that in a truly free society, the state should master or have control over very little else. This implies that individuals and private organizations, not the government, should have freedom to make most decisions impacting things other than monetary matters.

Overall, the best interpretation is that Beveridge believed the state’s role in a free, democratic country should be a limited one, focused primarily on monetary issues, with individuals and private entities retaining freedom in most other aspects of economic and social life. This view favors individual liberty over an expansive welfare state.

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