Another great evil arising from this desire to be thought rich; or rather, from the desire not to be thought poor, is the destructive thing which has been honoured by the name of 'speculation'; but which ought to be called Gambling.
About this quote
- What does it mean?
- The author argues that the desire to appear rich leads to speculation, which is essentially gambling.
- In plain terms
- Wanting to seem rich makes people gamble with speculation.
- What can you take from it?
- Social pressure to appear rich leads to financial gambling.
Where it applies
Putting it to work
Questions to consider
- Is speculation always gambling?
- How do you define wealth?
Another view
It ignores legitimate investment which is distinct from gambling.
More from William Cobbett
As to the power which money gives, it is that of brute force, it is the power of the bludgeon and the bayonet, and of the bribed press, tongue and pen.
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