A Sense of the Mysterious : Science and the Human Spirit (2005), p. 200<!-- Pantheon Books isbn=0375423206 -->
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.
“When consumers purchase more goods, plants use more of their capacity, men are hired instead of laid off, investment increases and profits are high.”
Source: 1962, Address and Question and Answer Period at the Economic Club of New York (549)
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John F. Kennedy 469
35th president of the United States of America 1917–1963Related quotes
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Principles of Political Economy (Second Edition 1836)
Context: But such consumption is not consistent with the actual habits of the generality of capitalists. The great object of their lives is to save a fortune, both because it is their duty to make a provision for their families, and because they cannot spend an income with so much comfort to themselves, while they are obliged perhaps to attend a counting house for seven or eight hours a day...
... There must therefore be a considerable class of persons who have both the will and power to consume more material wealth then they produce, or the mercantile classes could not continue profitably to produce so much more than they consume.
Out of Control: The New Biology of Machines, Social Systems and the Economic World (1995), New Rules for the New Economy: 10 Radical Strategies for a Connected World (1999)
“A good prescription is still more profitable than an absolution.”
(c. 1734) in a successful argument to persuade his father that a medical education was preferred. As quoted by Friedrich Albert Lange, History of Materialism and Critique of its Present Importance Tr. Ernest Chester Thomas (1882) 2nd edition, Vol. 2, p. 55. https://books.google.com/books?id=X4pQAAAAYAAJ&pg=PA55