Steve Forbes, Chairman and CEO, Forbes, Inc. and Editor-in- Chief, Forbes magazine
Rockefeller himself believed that thrift was essential to well-ordered living. This book, if followed, could help all of us put our personal and public lives back in order.
Jim Stanley, Co-Chairman, VII, Inc.
According to the ever-wise Dr. Samuel Johnson, “Frugality may be termed the daughter of Prudence, the sister of Temperance, and the parent of Liberty.“ This book is most noteworthy because it puts us back on such a virtuous path!
Mary Jeffries, CEO, Polaroid
Edison like all inventors knew that the scope of Thrift is limitless. So did Dr. Land the founder of Polaroid, one of our companies. Ted Malloch has done all of us in business a huge favor- -he has rediscovered a virtue that unlocks the door to success and builds true character.
Dr. Stanley Carlson-Theis, Senior Policy Director, Center for Public Justice
This is a most interesting and timely topic—not exactly politically correct nor the kind of thing that captains of industry or politicians thinking of tax revenues (i.e., all politicians) want us to reflect on and pay heed too! But, thrift is a virtue that is relevant also to non tartan-skirted folks. . .
Colin A. Hanna, Executive Director, Let Freedom Ring
For most of us, thrift is the necessary precondition to generosity. In this book, Dr. Malloch points out the public as well as private benefits of the twin virtues of thrift and generosity. Both societies and individuals yearn to influence history, and this engaging book illustrates the simple truth that we must be good stewards, not merely consumers, of the gifts entrusted to us if we hope to make a positive impact on those around us.
Milt Kuyers, CEO, Faustel, Inc.
Wow…, has Ted Malloch packed a lot into this book on a much broader perspective than you could have ever guessed from it’s title. It supports traditional thought while showing excellent research and examples. It proves the thesis that thrift results in many kinds of wealth. I had to read and study it a second time to appreciate the depth of thinking here exhibited!
Dr. Paul Zak, Professor of Economics and Director, Center for Neuroeconomics Studies, Claremont Graduate University and Editor of, Moral Markets: The Critical Role of Values in the Economy
Dr. Theodore Malloch’s book on thrift reminds us of the importance of this overlooked virtue by tracing its value, both historic and contemporary. Tracing its roots from the Scottish enlightenment to the no-waste credo of Sam Walton, Malloch shows how thrift advantages others rather than ourselves, a noble act that can make us happier. Equally important, thrift provides the resources to stimulate prosperity: without savings there is no investment. Indeed, Malloch argues persuasively that underdevelopment is a moral dilemma because corruption and ineptitude have crowded out thrift. This important book is lively, topical, and immediately useful.
Paul Corts, President, CCCU
In an earlier era, America’s Calvinist president, Calvin Coolidge, argued that industry, thrift and self-control are not sought because they create wealth, but because they create character. Malloch’s treatment of thrift needs to be read aloud in classrooms so that once again our people will find and build character.
Al Sikes, Chairman, Trinity Forum
Thrift takes on “the crucial linkage between democracy, freedom and capital”. Ted Malloch asks the tough questions and goes deep to find the truths, which animate our lives. His thoughts and conclusions on “spiritual capital” are especially persuasive.
Paul Dietrich, CEO, Foxhall Capital
Thrift is not avarice. Avarice is not generous. Historically, it is the thrifty people who are generous. If we want a society of true wealth, a giving society, we will need to rediscover the virtue of thrift so well expounded in this book that should become a true classic.
Michael Van Pelt, President, Work Research Foundation
Malloch’s injection of the virtue of thrift in today’s public dialogue will challenge us to renovate our economic house, repair our appetites and help us search for what is of real value. Somehow, this forgotten virtue has me humbled at its simplicity and enthusiastic about the power of an historic idea poised to live again. This is the wise work of one of our true public intellectuals.
Bev Hendry, President, Aberdeen Asset Management
As an Aberdonian, from the north of Scotland, I can certainly appreciate the virtue of thrift more than most. Thrift as well as other traditional Scottish virtues such as enterprise, hard work and innovation has helped the Scots build up many successful global businesses particularly in the financial arena. This book shows wonderfully how that was possible.
Dr. Paul Marshall, Senior Fellow, The Hudson Institute
The word thrift seems decidedly unmodern, a fusty old term redolent of Victorian or even Puritan strictness, or perhaps hypocrisy. As this book shows, it is anything but: it is intimately tied to developments such as the economic rise of China and the other Asian tigers, and to many of the ills that plague modern America. Ted Malloch’s marvelous book roots an understanding of thrift in philosophy, economics and theology and shows how this virtue is vital to the renewal of our lives and societies.
Very Rev. Dr. Christopher Hancock, King’s College, London University
‘Where materialism thrives thrift hides’ – not so, of course: they need one another. Spending and saving, like virtue and wisdom, are matters of the soul as much as the ledger. This book by the ever erudite Dr. Malloch provides a timely reminder from someone who knows a lot about both money and virtue, that there is more to life and money than credit or cash.
Joseph Shattan, author of Architects of Victory: Six Heroes of the Cold War
If America is to prevail in today’s global economy, we will need to cultivate the virtues Ted Malloch describes in this brilliant and extremely readable book. It is wisdom on steroids.
Dwight Lee, Ramsay Professor of Economics and Private Enterprise, Terry School of Business, University of Georgia
Whether a forgotten virtue or not, Malloch makes compelling argument that thrift is a virtue that is very much its own reward. And the reward is not only, or most importantly, in the form of material wealth. Thrift is part of a package of virtues, such as discipline, accountability and farsightedness, that are necessary to a satisfying and meaningful life, and in most cases sufficient as well.
Dr Peter S Heslam, Transforming Business, University of Cambridge.
Thrift is often negatively associated with miserliness. Rooted in the verb ‘to thrive’, however, it is actually about human flourishing. Thrifty people are future-minded, prepared to delay gratification in the hope of a better tomorrow. A wealth of new research affirms the importance of this characteristic for human happiness. Against a background of over consumption based on debt-based instant gratification, Ted Malloch’s book provides a compelling case for the recovery of thrift as a practical virtue relevant to every social sphere. The author’s vast experience of many of these areas ensures that this book is not only timely but firmly based in contemporary reality.
Andrea Sachs, Time Magazine, Dec. 14, 2009
Theodore Roosevelt Malloch, whose book Thrift: Rebirth of a Forgotten Virtue may be tough sledding for the non-Ph.D. reader. Malloch, who has held positions at the U.N., the Senate Committee on Foreign Relations and the State Department, writes with passion in an ambitiously academic style. He examines the history of the concept of thrift- -the root of the word is an Old Norse verb meaning “to thrive”- -citing the contributions of the Scots and Calvinists.