“Full knowledge of the past helps us in dealing with the future.”
1910s, The Progressives, Past and Present (1910)
Context: Inasmuch as it is so often impossible to punish wrongs done in the past, and to prevent the consequences of the wrongs thus committed being felt by one innocent class, without shifting the burden to the shoulders of another innocent class, we ought to provide that hereafter business shall be carried on from its inception in such a way as to prevent swindling. Incidentally, this will also tend to prevent that excessive profit by one man, which may not be swindling, under existing laws, but which nevertheless is against the interest of the commonwealth. To know all the facts is of as much interest to the investor and the wage-worker as to the shipper, the producer, the consumer. Full knowledge of the past helps us in dealing with the future. If we find that high rates are due to overcapitalization n the past, or to any kind of sharp practice in the past, then, whether or not it is possible to take action which will partly remedy the wrong, we are certainly in a better position to prevent a repetition of the wrong.
