Ch. 1 : Welfare and Economic Welfare, § 1; First lines, p. 3
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When a man sets out upon any course of inquiry, the object of his search may be either light or fruit — either knowledge for its own sake or knowledge for the sake of good things to which it leads. In various fields of study these two ideals play parts of varying importance. In the appeal made to our interest by nearly all the great modern sciences some stress is laid both upon the light-bearing and upon the fruit-bearing quality, but the proportions of the blend are different in different sciences. At one end of the scale stands the most general science of all, metaphysics, the science of reality. Of the student of that science it is, indeed, true that "he yet may bring some worthy thing for waiting souls to see"; but it must be light alone, it can hardly be fruit that he brings. Most nearly akin to the metaphysician is the student of the ultimate problems of physics. The corpuscular theory of matter is, hitherto, a bearer of light alone. Here, however, the other aspect is present in promise; for speculations about the structure of the atom may lead one day to the discovery of practical means for dissociating matter and for rendering available to human use the overwhelming resources of intra-atomic energy.

— Arthur Cecil Pigou

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "When a man sets out upon any course of inquiry, the object of his search may be either light or fruit — either knowledge for its own sake or knowledge for the sake of good things to which it leads. In various fields of study these two ideals play parts of varying importance. In the appeal made to our interest by nearly all the great modern sciences some stress is laid both upon the light-bearing and upon the fruit-bearing quality, but the proportions of the blend are different in different sciences. At one end of the scale stands the most general science of all, metaphysics, the science of reality. Of the student of that science it is, indeed, true that "he yet may bring some worthy thing for waiting souls to see"; but it must be light alone, it can hardly be fruit that he brings. Most nearly akin to the metaphysician is the student of the ultimate problems of physics. The corpuscular theory of matter is, hitherto, a bearer of light alone. Here, however, the other aspect is present in promise; for speculations about the structure of the atom may lead one day to the discovery of practical means for dissociating matter and for rendering available to human use the overwhelming resources of intra-atomic energy." in the context of "Ch. 1 : Welfare and Economic Welfare, § 1; First lines, p. 3" to mean that wisdom is timeless.

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Source: Wikiquote: "Arthur Cecil Pigou" (Quotes, The Economics of Welfare (1920): Arthur Cecil Pigou. The Economics of Welfare (4th edition, 1932) online at the Library of Economics and Liberty, Part I. Welfare and the National Dividend) The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app
Arthur Cecil Pigou

About Arthur Cecil Pigou

Arthur Cecil Pigou (November 18, 1877 – March 7, 1959) was an English economist. As a teacher and builder of the school of economics at Cambridge University he trained and influenced many Cambridge economists who went on to fill chairs of economics around the world.