Progressive societies outgrow institutions as children outgrow clothes.
Henry GeorgeRead
Poorly paid labor is inefficient labor, the world over.
Interpretation
Low wages lead to lower productivity in the workforce.
Henry George highlights the relationship between fair compensation and labor efficiency. He suggests that when workers are paid poorly, their motivation and productivity diminish, which ultimately affects overall economic performance across the globe.
In practice
A speaker at a labor conference uses this quote to emphasize the importance of fair wages for economic growth.
Progressive societies outgrow institutions as children outgrow clothes.
The march of invention has clothed mankind with powers of which a century ago the boldest imagination could not have dreamt.
It is not the business of government to make men virtuous or religious, or to preserve the fool from the consequences of his own folly. Government should be repressive no further than is necessary to secure liberty by protecting the equal rights of each from aggression on the part of others, and the moment governmental prohibitions extend beyond this line they are in danger of defeating the very ends they are intended to serve.
The protection of the masses has in all times been the pretense of tyranny - the plea of monarchy, of aristocracy, of special privilege of every kind. The slave owners justified slavery as protecting the slaves.
So long as all the increased wealth which modern progress brings goes but to build up great fortunes, to increase luxury and make sharper the contrast between the House of Have and the House of Want, progress is not real and cannot be permanent.
Compare society to a boat. Her progress through the water will not depend upon the exertion of her crew, but upon the exertion devoted to propelling her. This will be lessened by any expenditure of force in fighting among themselves, or in pulling in different directions.
When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals.
Economics has been incurably growth-oriented and addicted to everybody growing richer, even at the cost of exhaustion of resources and pollution of the environment.
Credit is a promise to deliver money. It will produce GDP but you'll create credit... So you reach a certain point that that you can't do that anymore... There are choices. And how do we best support, apportion the money? How much is going to be transferred?
Significantly opening up immigration to skilled workers solves two problems. The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
The high cost of housing is crushing poor families and sending them to a state of desperation.
I know of no example in time or place of a society that has been marked by a large measure of political freedom, and that has not also used something comparable to a free market to organize the bulk of economic activity.
Subscribe for the occasional hand-picked quote. No noise.