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.
The better his [a laborer’s] machinery, and the more readily it can be obtained, the larger will be his production....
America’s first political economist
Because tax cuts create an incentive to increase output, employment, and production, they also help balance the budget by reducing means-tested government expenditures. A faster-growing economy means lower unemployment and higher incomes, resulting in reduced unemployment benefits and other social welfare programs.
If we boost productivity, we can improve economic growth.
Increases in output generally lead to lower prices, not higher prices.
The best way to help a man increase his output is to help build the man. Help him increase his stature as a man, and he will just naturally do better-on the job and off.
My goal is to generate more material for myself.
All, the intelligent and stupid, diligent and idle, have been swept along on a current of increased output that, in the usual case, owed nothing whatever to their efforts.
