The power of III

Summum ius summa iniuria--More law, less justice

28 November 2010

Quote of the day 11/28

"It is the highest impertinence and presumption… in kings and ministers, to pretend to watch over the economy of private people, and to restrain their expense... They are themselves always, and without any exception, the greatest spendthrifts in the society. Let them look well after their own expense, and they may safely trust private people with theirs. If their own extravagance does not ruin the state, that of their subjects never will."

Adam Smith, Wealth of Nations, 1776

Lesson for us for when we write a new constitution:  hold the government accountable for their expenditures, by the same rules that apply to businesses and individuals:  Don't spend more than you earn, and don't borrow more than you can realistically re-pay.

No comments:

Post a Comment