We are not to judge thrift solely by the test of saving or spending. If one spends what he should prudently save, that certainly is to be deplored. But if one saves what he should prudently spend, that is not necessarily to be commended. A wise balance between the two is the desired end.


Selected Addresses of Owen D. Young, Chairman of Board of Directors, and Gerard Swope, President, General Electric Company (ed. 1930)

Owen D. Young Quotes

We are not to judge thrift solely by the test of saving or spending. If one spends what he should prudently save, that certainly is to be deplored....

We are not to judge thrift solely by the test of saving or spending. If one spends what he should prudently save, that certainly is to be deplored....

We are not to judge thrift solely by the test of saving or spending. If one spends what he should prudently save, that certainly is to be deplored....

We are not to judge thrift solely by the test of saving or spending. If one spends what he should prudently save, that certainly is to be deplored....