In my International Development Scheme, I propose that the…
“In my International Development Scheme, I propose that the profits of this industrial development should go first to pay the interest and principal of foreign capital invested in it; second to give high wages to labor; and third to improve or extend the machinery of production.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
The plan prioritizes repaying foreign investors, then paying workers high wages, then upgrading production equipment.
In simple terms: First pay foreign investors, then workers, then improve machines.
Key Takeaway
Balance foreign debt with worker welfare and growth.
Themes
economics
development
labor rights
Mood
pragmatic
strategic
Type
policy
economic
When to use this quote
- government budgeting
- foreign investment
- factory management
- policy drafting
Key Concepts
capital repayment
wage policy
industrial upgrade
Questions to Reflect On
- Can a developing economy sustain high wages while repaying debt?
- What risks arise from prioritizing foreign investors?
A Different Perspective
High wages may strain ability to repay foreign capital.