Thomas Hodgskin Quotes

That the powers of labour, and of the other instruments which produce wealth, may be indefinitely increased by using their products as the means of further production.

Profit does not decrease but increase in the progress of society

Labour is the father and active principle of wealth, as lands are the mother.

Human history in essence is the history of ideas.

Labor is the only means of creating wealth.

Neither the lawmaker nor the capitalist possesses any miraculous power of multiplying loaves and fishes; or of commanding, like the enchanters of old, broomsticks to do the work of men. They must have labourers, skilled labourers, and without them it is nonsense to talk of improving a country …

Savings is the fundamental input for capital investment, and capital investment is the primary ingredient in productivity.

Economists largely confine themselves to three key factors - capital, labor and productivity - when explaining how and why a country grows.

In one aspect, my works record the history of the development of Chinese society. Concern about the situation of Chinese reality is one important theme of my works. I am trying to ask, 'How does our society develop? What are the problems in our society? Where is our direction leading?'

To develop political and economic power in a capitalist society, you need capital.

There is very strong historical data that suggests the way societies grow is by making large, long-term investments.

Prosperity in human society is misunderstood. The difference between a rich and poor society is the number of problems that society solves for its citizens. That means technological innovation is the source of all prosperity, but with every tech innovation, you also get disruption - ultimately, social and civic disruption.

The quantity of industry therefore not only increases in every country with the increase of the stock or capital which sets it in motion; but, in consequence of this increase, the division of labour becomes extended, new and more powerful implements and machines are invented, and the same quantity of labour is thus made to produce an infinitely greater quantity of commodities.

As capital is thus the most essential element in setting industry in motion, so it is by the amount of it, that the productiveness of that industry is chiefly determined.

While the overall goal of any society must be to educate all its members, at this stage in human history the greatest need is to educate women and girls. For over twenty years, studies have consistently documented that, of all possible investments, educating women and girls pays the highest overall dividends in terms of social development, the eradication of poverty and the advancement of community.

The produce of the earth - all that is derived from its surface by the united application of labour, machinery, and capital, is divided among three classes of the community, namely, the proprietor of the land, the owner of the stock or capital necessary for its cultivation, and the labourers by whose industry it is cultivated.

History does not provide any example of capital accumulation brought about by a government. As far as governments invested in the construction of roads, railroads, and other useful public works, the capital needed was provided by the savings of individual citizens and borrowed by the government.

Regardless of how it is funded, consumption does not increase productivity; investment and innovation do.

The world view of economic development has completely changed: it is no longer believed to be driven by human labour, as Karl Marx said, or by capital, as Alfred Marshall stated, but is knowledge-driven.

A tax on capital is self-defeating, in that it slows down capital accumulation, investment and economic growth.

Money is not capital in most of the developing countries. It's just cash. Because it lacks the institutional, organizational, managerial forms to turn it into capital.

All countries will eventually need to rebuild their growth models around digital technologies and the human capital that supports their deployment and expansion.

Policies to strengthen education and training, to encourage entrepreneurship and innovation, and to promote capital investment, both public and private, could all potentially be of great benefit in improving future living standards in our nation.

The normal metric of measuring progress has actually been the rate of growth, OK? It's not a wrong metric, but it's not a full metric.

Private equity investors are an integral part of the economy and should be celebrated for making our country wealthier.