“Increasing research and development budget to 5 percent of the agricultural production (GVA=P1.17trillion) would bring about better varieties and more efficient farming methods which would increase yields and give the farmer higher incomes even while farmgate prices go down to benefit the consumer.”

2009, Speech: The Socio-Economic Peace Program of Senator Francis Escudero

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Francis Escudero354

Filipino politician 1969

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“Like it or not, giant, vertically integrated corporate enterprises were the most efficient means of organizing the production and distribution of mass produced goods and services. Bringing together supply chains, production processes, and distribution channels in vertically integrated companies under centralized management dramatically reduced transaction costs, increased efficiencies and productivity, lowered the marginal cost of production and distribution, and, for the most part, lowered the price of goods and services to consumers, allowing the economy to flourish. While those at the top of the corporate pyramid disproportionately benefited from the increasing returns on investment, it’s only fair to acknowledge that the lives of millions of consumers also improved appreciably in industrialized nations.”

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“This would, at a stroke, reduce the rise in prices, increase production and reduce unemployment.”

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“It is estimated that the value of the crops for this harvest year may reach $13,000,000,000, which is an increase of over $3,000,000,000 in three years. It compares with $7,100,000,000 in 1913, arid if we make deduction from the figures of 1924 for the comparatively decreased value of the dollar, the yield this year still exceeds 1913 in purchasing power by over $1,000,000,000, and in this interval there has been no increase in the number of farmers. Mostly by his own effort the farmer has decreased the cost of production. A marked increase in the price of his products and some decrease in the price of his supplies has brought him about to a parity with the rest of the Nation. The crop area of this season is estimated at 370,000,000 acres, which is a decline of 3,000,000 acres from last year, and 6,000,000 acres from 1919. This has been a normal and natural application of economic laws, which has placed agriculture on a foundation which is undeniably sound and beginning to be satisfactory.”

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“Workers… rather have used their increased efficiencies and resulting increased disposable income to purchase more material goods. …Indeed, in a cruel irony, the workweek has actually lengthened. …More work is required to pay for more consumption, fueled by more production, in an endless, vicious circle.”

Alan Lightman (1948) Physicist, science writer, essayist, novelist

A Sense of the Mysterious : Science and the Human Spirit (2005), p. 200
Context: In the 1950s, academics forecast that as a result of new technology, by the year 2000 we could have a twenty-hour workweek. Such a development would be a beautiful example of technology at the service of the human being.... According to the Bureau of Statistics, the goods and services produced per hour of work in the United States has indeed more than doubled since 1950.... However, instead of reducing the workweek, the increased efficiencies and productivities have gone into increasing the salaries of workers.... Workers... rather have used their increased efficiencies and resulting increased disposable income to purchase more material goods.... Indeed, in a cruel irony, the workweek has actually lengthened.... More work is required to pay for more consumption, fueled by more production, in an endless, vicious circle.

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David Ricardo (1772–1823) British political economist, broker and politician

Source: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter XVII, Taxes on Other Commodities, p. 161 (see also.. Consumption Tax)

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Francis Escudero354

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