Machiavelli writes in The Qualities of the Prince, that it is better to be a miser and slightly disliked for a while than to be generous and be liked for a while than hated. If you're a generous prince you can only be so for a short time before having to raise taxes and having people realize that you're not that generous in all reality. Once a prince gets a reputation for being hated he will feel any slight unrest of his people. On the other hand if a prince is miserly from the get go he will be received gratefully when he decides to be generous. Using this quality of miserliness he has the ability to expand and defend his kingdom and be ready for any unforeseen events without having to burden his people, which, in turn leads to economic growth.
Generosity done openly runs the risk of making the prince broke; a broke prince will have to raise his taxes in order to keep up his reputation for being generous. This tax raise will affect all but only benefit a few which, in turn, will......
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