[Lombard Street: A Description of the Money Market by Walter Bagehot]@TWC D-Link book
Lombard Street: A Description of the Money Market

CHAPTER III
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New wants are mostly supplied by adaptation, not by creation or foundation.

Something having been created to satisfy an extreme want, it is used to satisfy less pressing wants, or to supply additional conveniences.

On this account, political Government--the oldest institution in the world--has been the hardest worked.

At the beginning of history, we find it doing everything which society wants done, and forbidding everything which society does not wish done.

In trade, at present, the first commerce in a new place is a general shop, which, beginning with articles of real necessity, comes shortly to supply the oddest accumulation of petty comforts.


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