To be thrifty means for a worker to spend less than his income—in other words, to live on less.
 Jack London, The People of the Abyss (1903). copy citation

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Author Jack London
Source The People of the Abyss
Topic workers words
Date 1903
Language English
Reference
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Weblink https://en.wikisource.org/wiki/The_People_of_the_Abyss

Context

“And the lie they preach is 'thrift.' An instance will demonstrate it. In overcrowded London, the struggle for a chance to work is keen, and because of this struggle wages sink to the lowest means of subsistence. To be thrifty means for a worker to spend less than his income—in other words, to live on less. This is equivalent to a lowering of the standard of living. In the competition for a chance to work, the man with a lower standard of living will underbid the man with a higher standard. And a small group of such thrifty workers in any overcrowded industry will permanently lower the wages of that industry.” source