Samuel Smiles Thrift Summary

Samuel Smiles’ Thrift, provided a framework for people to capitalize on their labor and become successful in life. Smiles’ focus was aimed at enlightening society on what was necessary to develop what he called someone’s private economy. People spend their time working and then without even thinking for the future they spend their hard earned money down to nothing then go back to work, never investing in their future. These people, who failed to save for the tomorrow, are what he called savages. He relates this name to that of the Native Indians inhabiting America and uses them as an example of how they would hunt and then exhaust their resources all in one sitting rather than developing a system to provide them a stable future. Smiles also relates how man works uses his funds from labor to provide for drink and …show more content…
If the person wants to spend their returns quickly and on products with no substance, such as alcohol, then he will forever be trying to crawl out of poverty due to lack of self control and intelligence to save. However, those that are wise and understand the importance of saving today for the tomorrow are the ones being thrifty. In conjunction with this idea, the more people that understand this concept of becoming thrifty and maximizing their labor help to progress other labor. As Smiles states, “the men who economize by means of labor become the owners of capital which sets other labor in motion.” To be thrifty not only benefitted yourself but it helped drive the economy of society as a whole. One man growing his capital through labor, provides other labor sources to develop like that of industries. The idea of becoming thrifty was not something that was only obtained by the wealthy, or educated, it was a status available to all that worked for themselves. Becoming thrifty provided man to not only develop his own economy but also family and