"By fashion and built-in obsolescence the economies of machine production, instead of producing leisure and durable wealth, are duly cancelled out by the mandatory consumption on an even larger scale."

Previous Quote

The definition of investment is the deferring ofpresent consumption for future consumption. So, you dohave to be willing to defer. And there are a couple of tricks that you can use to save money. One of them is simply to pay yourself first.

— William J. Bernstein