Economic growth Quote by Edward A. Hudson

““This sequence illustrates one crucial feature of economic growth – the succession of new products which met huge consumer demand, creating growth industries which pull the economy forward.””

Edward A. Hudson

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More by Edward A. Hudson

“Economic growth continued by means of a succession of new products which found growing and ultimately massive demand. Some of the new products were…

Edward A. Hudson

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“Sustained growth at 2% a year changes lives. An increase at 2% a year for 150 years increases average incomes by a factor of 16.”

Edward A. Hudson

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“England achieved the breakthrough to growth. England’s growth followed from agricultural advances which increased incomes sufficiently that people started to demand more manufactured goods.”

Edward A. Hudson

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“There had previously, such as in Rome and the Netherlands, been growth over one or two centuries but this earlier growth was based on…

Edward A. Hudson

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“Economic growth took place at the product and industry level; growth was driven by demand and enabled by supply expansion.”

Edward A. Hudson

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“growth processes operate at the market level, not the economy-wide level. This requires us to look at growth industry by industry.”

Edward A. Hudson

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“The result was introduction and adoption of a sequence of new products. These new products started off small but, tapping the huge potential markets…

Edward A. Hudson

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“At the industry level this process went, for example, from cotton, tobacco and wheat through railroads and automobiles, household appliances and electrical goods, to…

Edward A. Hudson

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“After the 1950s the leading causes of death became heart diseases, cancers and strokes, often known as “lifestyle diseases”. These have proved more difficult…

Edward A. Hudson

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“The development of information technology has taken place through a sequence of innovations, one building on another. Most of these innovations did not occur…

Edward A. Hudson

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“Woolens were fundamentally different from cottons – advances in cotton processing made cotton goods accessible to everyone, creating a new market whereas advances in…

Edward A. Hudson

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“Within this stable and secure environment people had the ability and the incentive to pursue their own economic interests.”

Edward A. Hudson

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Advances in technology will continue to reach far into every sector of our economy. Future job and economic growth in industry, defense, transportation, agriculture,…

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“Economic growth continued by means of a succession of new products which found growing and ultimately massive demand. Some of the new products were…

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In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation…

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I was the chairman of the Budget Committee and the lead architect the last time it happened in Washington, and when we did it…

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Economic growth and 'future superpower' status is all very good but that doesn't guarantee dignity for every individual.

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Following one of the most violent conflicts in human history, the United States and Japan built a deep and abiding friendship - an alliance…

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“For their never-ending endeavours to obtain or retain wealth, countries desperately need companies, because they—unlike most human beings—have the means of production, and human…

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