In 1538, the Duke of Norfolk wrote a letter to Thomas Cromwell, the chief minister to King Henry VIII. A plague had rampaged the regions taxed by the Duke, and he found himself lacking funds which he had previously considered certain. As the Duke reviewed which assets he would need to sell and consequently remove from his will, he wrote to Cromwell “a man can not have his cake and eat his cake.” The meaning is simple: Once assets are sold (or consumed, as is the case with cake), they can no longer be held.
In the world of agriculture. . .
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