“Any prosperity policy is a delusion and a path to ruin. There is no economic lesson which the people of the United States need to take to heart more than that. In the second place the Spanish mistakes arose, in part, from confusing the public treasury with the national wealth.”

— William Graham Sumner

"The Conquest of the United States by Spain”, speech at Yale 1899 http://oll.libertyfund.org/titles/sumner-boll-11-w-g-sumner-the-conquest-of-the-united-states-by-spain-1898.

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William Graham Sumner9

American academic 1840–1910

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“Any prosperity policy is a delusion and a path to ruin. There is no economic lesson which the people of the United States need to take to heart more than that. In the second place the Spanish mistakes arose, in part, from confusing the public treasury with the national wealth.”

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William Graham Sumner9

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