Quote by Thomas Carlyle
“Turning to capital, Smith said that the amount of profit that capital can expect to earn through investments is roughly equal to the rate of interest. This is because employers compete with each other to borrow funds to invest in profitable opportunities. Over time the rate of profit in any particular field falls as capital accumulates and opportunities for profit are exhausted.”
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Thomas Carlyle was a Scottish satirical writer, essayist, historian and teacher during the Victorian era. He called economics "the dismal science", wrote articles for the Edinburgh Encyclopedia, and became a controversial social commentator.
Coming from a strict Calvinist family, Carlyle was expected by his parents to become a preacher, but while at the University of Edinburgh, he lost his Christian faith. Calvinist values, however, remained with him throughout his life. This combination of a religious temperament with loss of faith in traditional Christianity made Carlyle's work appealing to many Victorians who were grappling with scientific and political changes that threatened the traditional social order.