“Economic progress… means the discovery and application of better ways of doing things to satisfy our wants. The piping of water to a household that previously dragged it from a well, the growing of two blades of grass where one grew before, the development of a power loom that enables one man to weave ten times as much as he could before, the use of steam power and electric power instead of horse or human power — all these things clearly represent economic progress.”

— Kenneth E. Boulding

Remark: Kenneth Boulding gave the same example in his 1945 The economics of peace, p. 74
Source: 1950s, Principles of economic policy, 1958, p. 23

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Kenneth E. Boulding 163

British-American economist 1910–1993

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Kenneth E. Boulding 163

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