Progressive societies outgrow institutions as children outgrow clothes.
Henry GeorgeRead
The value of a thing is the amount of laboring or work that its possession will save the possessor.
Interpretation
The worth of an item is measured by how much effort it can save the owner.
This quote by Henry George suggests that the true value of any object or possession lies not in its physical characteristics or aesthetic appeal, but rather in the labor and effort it saves the owner. In a practical sense, it emphasizes that efficiency and utility define value in our lives, guiding us to make choices based on the potential time and work we can save rather than superficial prestige.
In practice
During a lecture on economics, this quote can be referenced to explain concepts of value and labor.
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.
Poorly paid labor is inefficient labor, the world over.
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.
The raw fact is that every successful example of economic development this past century ... has taken place via globalization.
I don't know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else was talking about.
The first step to prescribing the right medicine is to recognize the cause of the illness. And, when it comes to what is ailing the global economy, extreme monetary easing has been more cause than cure. The sooner we recognize that, the stronger and more sustainable the global economic recovery will be.
Not only our future economic soundness but the very soundness of our democratic institutions depends on the determination of our government to give employment to idle men.
In the world of traditional economics, it shouldn't matter whether you use an opt-in or opt-out system. So long as the costs of registering as a donor or a nondonor are low, the results should be similar. But many findings of behavioral economics show that tiny disparities in such rules can make a big difference.
What we know about the global financial crisis is that we don't know very much.
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