It is not the actual greatness of national wealth, but its…
“It is not the actual greatness of national wealth, but its continual increase, which occasions a rise in the wages of labour. It is not, accordingly, in the richest countries, but in the most thriving, or in those which are growing rich the fastest, that the wages of labour are highest. England is certainly, in the present times, a much richer country than any part of North America. The wages of labour, however, are much higher in North America than in any part of England.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
National wealth’s growth, not its size, drives higher wages; rapid economic expansion benefits labor more than static riches.
In simple terms: Economic growth raises wages more than wealth alone.
Key Takeaway
Focus on fostering growth.
Themes
economics
labor
growth
wealth
Mood
analytical
thoughtful
Type
academic
explanatory
When to use this quote
- policy making
- business strategy
- investment decisions
- regional development
Key Concepts
classical economics
comparative advantage
Questions to Reflect On
- What policies ensure growth benefits workers?
- How to balance growth with equitable distribution?
A Different Perspective
Rapid growth can cause inequality if not managed.