A Quote by Edmund Phelps

I'm old enough to remember in the 1930s and the 1940s when thrift, frugality, was considered an important virtue. — © Edmund Phelps
I'm old enough to remember in the 1930s and the 1940s when thrift, frugality, was considered an important virtue.
I was brought up in an era when thrift was still considered a virtue.
There is a wise old saying 'Eat it up, wear it out, make it do, or do without'. Thrift is a practice of not wasting anything. Some people are able to get by because of the absence of expense. They have their shoes resoled, they patch, they mend, they sew, and they save money. They avoid installment buying, and make purchases only after saving enough to pay cash, thus avoiding interest charges. Frugality means to practice careful economy.
That's my dream to be old enough and mature enough that I won't be considered an "old lady" if I have a house with a barn. Because I already do needlepoint.
Americans who grew up in the 1930s or 1940s still have some fleeting memory of what the country was like before it became the steroidal superpower it is today.
I love that sort of 1930s and 1940s; I love that period - the thought of it. And I like war movies and all that kind of stuff as well.
Diligence means to be keen in matters of virtue and justice, but worldly people use diligence to solve their economic difficulties. Frugality means to have little desire for material goods, but worldly people use frugality as a cover for stinginess. Thus do watchwords of enlightened life turn into tools for the private business of small people. What a pity!
I am a passionate devotee of the Howard Hawks' screwball comedies of the 1930s and the 1940s, where I think that the relations between men and women were at their civilized height in terms of banter and exchange of wit and equality.
As a result of the efforts of Hayek .. and the many others who share his general outlook, the idea of a centrally planned and centrally administered economy, so popular in the 1930s and early 1940s, has been discredited.
I wrote my graduate thesis at New York University on hard-boiled fiction from the 1930s and 1940s, so, for about two years, I read nothing but Raymond Chandler, Dashiell Hammett, James Cain and Chester Himes. I developed such a love for this kind of writing.
No free government, or the blessings of liberty, can be preserved to any people, but by a firm adherence to justice, moderation, temperance, frugality, and virtue.
I certainly think it's ironic that beach volleyball was first played in the 1930s in Santa Monica and tournaments of a high caliber have been happening in this country since the 1940s, and the FIVB, for many years, has ignored beach volleyball.
Thrift is care and scruple in the spending of one's means. It is not a virtue and it requires neither skill nor talent.
Industry and frugality, as the means of procuring wealth . . . thereby [secures] virtue, it being more difficult for a man in want to act always honestly. . . .
Working conditions for me have always been those of the monastic life: solitude and frugality. Except for frugality, they are contrary to my nature, so much so that work is a violence I do to myself.
I would not say that Harvard possesses any sort of absolute dominance. And I personally do not take the rankings of schools all that seriously. However, I think that Harvard's global visibility increased significantly in the 1930s and 1940s and that the new commitment to excellence at Harvard spread to other institutions.
Time was when people used to brag about how old they were - and I am old enough to remember it.
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