“By such action we have not only discharged an obligation to humanity, but have likewise profited in our trade relations and established a community of interests which can not but be an added security for the maintenance of peace. In so far as we can confirm other people in the possession of profitable industry, without injuring ourselves, we shall have removed from them that economic pressure productive of those dissensions, discords, and hostilities which are a fruitful source of war.”

— Calvin Coolidge

1920s, Ways to Peace (1926)

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Calvin Coolidge 412

American politician, 30th president of the United States (i… 1872–1933

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“While we are thus desirous of the economic welfare of other countries in part because of its relation to world peace, we ought to remember that our own Government owes a great duty to the American people in this direction. It is for this reason in part that I have insisted upon a policy of constructive economy in the national administration. If we can make the circumstances of the people easy, if we can relieve them of the burden of heavy taxation, we shall have contributed to that contentment and peace of mind which will go far to render them immune from any envious inclination toward other countries. If the people prosper in their business, they will be the less likely to resort to the irritating methods of competition in foreign trade out of which arise mutual misunderstandings and animosities. They will not be driven to the employment of sharp practices in order to support and maintain their own position. Being amply supplied with their own resources, they will not be so inclined to turn covetous eyes toward the resources of other nations.”

Calvin Coolidge (1872–1933) American politician, 30th president of the United States (in office from 1923 to 1929)

1920s, Ways to Peace (1926)

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Peter F. Drucker (1909–2005) American business consultant

Source: 1930s- 1950s, The End of Economic Man (1939), p. 149

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