"Mere parsimony is not economy. Expense, and great expense, may be an essential part in true economy"

This quote by Edmund Burke provides an informative perspective on the ideas of parsimony and economy, comparing easy frugality and smart financial management. Burke recommends that mere parsimony-- being extremely sparing or frugal-- does not equate to real economic wisdom. Parsimony typically implies conserving cash at all costs, even to the detriment of quality, performance, or progress. It can be a shortsighted technique where instant cost-cutting is prioritized without thinking about long-term repercussions or values.

In contrast, Burke proposes that real economy might involve expenditure, even substantial expenditure, as a tactical element of handling resources sensibly. This idea challenges the standard notion that saving money is always helpful and instead promotes for a more nuanced understanding. In essence, Burke is stressing the importance of buying areas that could yield higher benefits in the long run. For example, purchasing high-quality tools or education may require substantial initial outlays however can eventually result in greater efficiency, development, and economic gain gradually.

By acknowledging "expenditure, and fantastic expenditure", as potentially important to true economy, Burke acknowledges the intricacy of monetary decision-making. Decisions should ideally be guided by considerations of worth, utility, and the future, instead of simple cost limitations. This viewpoint motivates decision-makers to think about the wider photo when managing finances and resources, taking into consideration the potential for long-term effectiveness and sustainability.

In general, Burke's declaration brightens the difference between surface-level cost-cutting and deep, tactical monetary acumen. It asks individuals and companies to think critically about where and how they allocate resources, encouraging a balance that appreciates the prospective necessity of financial investment to achieve long lasting economic health and development.