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.
The natural effect of low interest is to increase trade and industry; because undertakings of every kind can be prosecuted with greater advantage.
Independent economists say immigration reform will grow our economy and shrink our deficits by almost $1 trillion in the next two decades. And for good reason: when people come here to fulfill their dreams - to study, invent, and contribute to our culture - they make our country a more attractive place for businesses to locate and create jobs for everyone. So let's get immigration reform done this year.
People stop buying things, and that is how you turn a slowdown into a recession.
Building new roads and bridges creates jobs. Growing our exports creates jobs. Reforming our outdated tax system and our broken immigration system creates jobs.
Conventional economic theory... counts the depletion of resources as the accumulation of wealth.
The unions might be good for the people who are in the unions but it doesn't do a thing for the people who are unemployed. Because the union keeps down the number of jobs, it doesn't do a thing for them.
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