Elgin Groseclose Professions : Economist Born : November 25, 1899 Died : April 4, 1983 Browse All Authors Famous Quotes by Elgin Groseclose The use of the word royalty, as fee to a proprietor for the exploitation of a work or property, derives from the period when the sovereign assumed title to all wealth of the realm. It was the struggle for freedom from these encroachments of the state that chiefly marked the Nineteenth Century, and established everywhere constitutional regimes of limited authority. In the Twentieth Century, however, we have witnessed a gradual and almost unrestricted movement back to state authoritarianism, primarily in the economic sphere, accompanied by the spread of state monopoly and intervention. Elgin Groseclose sovereign spheres struggle Until government administrators can so identify the interests of government with those of the people and refrain from defrauding the masses through the device of currency depreciation for the sake of remaining in office, the wiser ones will prefer to keep as much of their wealth in the most stable and marketable forms possible - forms which only the precious metals provide. Elgin Groseclose government office people Similar Authors Bryan Caplan economist Burton Malkiel economist Bruno Frey economist Brian Wesbury economist Branko Milanovic economist Andrew Samwick economist All Authors
