Part I, Chapter III, The Problem of Conserving Surplus, p. 43 (italics as per text)
“
The State can always afford to finance what its citizens can soundly produce.
— Benjamin Graham
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "The State can always afford to finance what its citizens can soundly produce." in the context of "Part I, Chapter III, The Problem of Conserving Surplus, p. 43 (italics as per text)" to mean that wisdom is timeless.
Source: Wikiquote: "Benjamin Graham" (Quotes, Storage and Stability (1937))
The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app
About Benjamin Graham
Benjamin Graham (May 9, 1894 – September 21, 1976) was an influential economist and professional investor. Graham is considered the first proponent of Value Investing. Well known disciples (students and teaching assistants) of Graham include Warren Buffett, William J. Ruane, Irving Kahn, Walter Schloss, and Charles Brandes. Buffett, who credits Graham as grounding him with a sound intellectual investment framework, described him as the second most influential person in his life after his own father. In fact, Graham had such an overwhelming influence on his students that two of them, Buffett and Kahn, named their sons, Howard Graham Buffett and Thomas Graham Kahn, after him.
About Benjamin Graham
Benjamin Graham (May 9, 1894 – September 21, 1976) was an influential economist and professional investor. Graham is considered the first proponent of Value Investing. Well known disciples (students and teaching assistants) of Graham include Warren Buffett, William J. Ruane, Irving Kahn, Walter Schloss, and Charles Brandes. Buffett, who credits Graham as grounding him with a sound intellectual investment framework, described him as the second most influential person in his life after his own father. In fact, Graham had such an overwhelming influence on his students that two of them, Buffett and Kahn, named their sons, Howard Graham Buffett and Thomas Graham Kahn, after him.
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