Famous quote by William Petty

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Wherefore when a man giveth out his money upon condition that be may not demand it back until a certain time to come, he
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"Wherefore when a man giveth out his money upon condition that be may not demand it back until a certain time to come, he certainly may take a compensation for this inconvenience which he admits against himself"

- William Petty

About this Quote

This quote by William Petty is describing the concept of providing cash. Petty is suggesting that when a person provides cash, they should have the ability to get a compensation for the hassle of not having access to their cash till a certain time in the future. This payment might be in the kind of interest, which is a typical practice when lending money. Petty is emphasizing that the loan provider should have the ability to receive something in return for the inconvenience of not having access to their cash. This quote is a pointer that lending cash ought to be an equally advantageous arrangement, where both parties take advantage of the transaction. It is important to keep in mind that providing cash is a danger, and the lending institution should be compensated for taking that threat.

About the Author

England Flag This quote is written / told by William Petty between May 27, 1623 and December 16, 1687. He/she was a famous Economist from England. The author also have 11 other quotes.

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