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In precisely the same way money is often hired, and the hire paid for the use of it is called Interest.
John Buchanan Robinson
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In brief, egoism in its modern interpretation, is the antithesis, not of altruism, but of idealism.
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However near and dear to you may be your wife, children, friends, they are not you; they are outside of you.
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Capital, however capital may be defined, would practically cease to exist as an income producing fund, for the simple reason that if money, wherewith to buy capital, could be obtained for one-half of one per cent, capital itself could command no higher price.
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But the egoist has no ideals, for the knowledge that his ideals are only his ideals, frees him from their domination. He acts for his own interest, not for the interest of ideals.
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But egoism is more than this. It is the realization by the individual that he is above all institutions and all formulas; that they exist only so far as he chooses to make them his own by accepting them.
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At present, financial crises occur, chiefly because the paper currency is redeemable in gold only.
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Accordingly, when the supply of gold runs short, the security behind the notes is diminished, the loaning of notes is restricted or suspended, and the panic follows.
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According to your sympathy, you will take pleasure in your own happiness or in the happiness of other people; but it is always your own happiness you seek.
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