--- title: "Meaning & Key Takeaway of: This sequence illustrates one crucial…" description: "\"“This sequence illustrates one crucial feature of economic growth – the succession of new products which met huge consumer demand, creating growth indu..." image: "https://sms4smile.com/quotes/i/761/edward-a-hudson-13409_economic-growth_this-sequence-illustrates-one-crucial-fe_2141868.jpg" --- # This sequence illustrates one crucial feature of economic… ![“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.” quote by Edward A. Hudson](https://sms4smile.com/quotes/i/761/edward-a-hudson-13409_economic-growth_this-sequence-illustrates-one-crucial-fe_2141868.jpg) [Download](https://sms4smile.com/quotes/i/761/edward-a-hudson-13409_economic-growth_this-sequence-illustrates-one-crucial-fe_2141868.jpg) [Open image](https://sms4smile.com/quotes/i/761/edward-a-hudson-13409_economic-growth_this-sequence-illustrates-one-crucial-fe_2141868.jpg) > ““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](https://sms4smile.com/quotes/author/edward-a-hudson/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Economic growth is driven by successive waves of innovative products that meet large consumer demand, spawning new industries that propel the economy forward. **In simple terms:** New products create demand and new industries fuel growth. Key Takeaway Focus on innovation and market demand. Themes innovation growth industry development consumer demand economic cycles Mood optimistic analytical Type economic strategic When to use this quote - product development - entrepreneurship - investment strategy - policy planning - business expansion Key Concepts creative destruction market dynamics industrial evolution Questions to Reflect On - How can policymakers foster environments for breakthrough products? - What role does consumer adoption play in sustaining growth? A Different Perspective Innovation alone may not guarantee growth without supportive infrastructure. ★ ★ ★ ★ ★ No ratings yet [Creating Growth](https://sms4smile.com/quotes/about/creating-growth-1198056/) [Economic growth](https://sms4smile.com/quotes/about/economic-growth/) [Economics](https://sms4smile.com/quotes/about/economics/) [Economy Forward](https://sms4smile.com/quotes/about/economy-forward-2562964/) [Growth Industries](https://sms4smile.com/quotes/about/growth-industries-1163287/) [Growth Succession](https://sms4smile.com/quotes/about/growth-succession-4463234/) ## Related quotes > [“It also requires us to look at spending (or demand) industry by industry, as economic growth is characterized by continuing introduction of new products,…](https://sms4smile.com/quotes/edward-a-hudson/it-also-requires-us-to-look-at-spending-or-demand-industry-by/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“The breakthrough into industrial growth took place in Britain. However, economic leadership gradually passed to the United States, based on a new set of…](https://sms4smile.com/quotes/edward-a-hudson/the-breakthrough-into-industrial-growth-took-place-in-britain-however/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“The result was introduction and adoption of a sequence of new products. These new products started off small but, tapping the huge potential markets…](https://sms4smile.com/quotes/edward-a-hudson/the-result-was-introduction-and-adoption-of-a-sequence-of-new/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [I really focus on the ball, I really focus on the work, and I really focus on creating all the growth opportunities for anyone…](https://sms4smile.com/quotes/bjarke-ingels/i-really-focus-on-the-ball-i-really-focus-on-the-work-and-i-really/) [Bjarke Ingels](https://sms4smile.com/quotes/author/bjarke-ingels/) > [Having your fiscal house in order and having a more manageable macro-economic future is going to be very useful in creating growth.](https://sms4smile.com/quotes/fareed-zakaria/having-your-fiscal-house-in-order-and-having-a-more-manageable-macro/) [Fareed Zakaria](https://sms4smile.com/quotes/author/fareed-zakaria/) > [We targeted five industries for growth, industries where we have natural advantages in North Dakota: value-added agriculture, advanced manufacturing, technology-based businesses, energy and tourism.…](https://sms4smile.com/quotes/john-hoeven/we-targeted-five-industries-for-growth-industries-where-we-have/) [John Hoeven](https://sms4smile.com/quotes/author/john-hoeven/) > [Every major industry was once a growth industry. But some that are now riding a wave of growth enthusiasm are very much in the…](https://sms4smile.com/quotes/theodore-levitt/every-major-industry-was-once-a-growth-industry-but-some-that-are-now/) [Theodore Levitt](https://sms4smile.com/quotes/author/theodore-levitt/) > [This is not a time for America to 'believe in magic.' This is a time to drive education forward. This is a time to…](https://sms4smile.com/quotes/jim-hunt/this-is-not-a-time-for-america-to-believe-in-magic-this-is-a-time-to/) [Jim Hunt](https://sms4smile.com/quotes/author/jim-hunt/) > [This ought to be a season for cooperation in terms of pushing our economy forward, job creation, steadying the middle class, and laying the…](https://sms4smile.com/quotes/david-axelrod/this-ought-to-be-a-season-for-cooperation-in-terms-of-pushing-our/) [David Axelrod](https://sms4smile.com/quotes/author/david-axelrod/) > [So when folks talk about the deficit and leaving the deficit for our children, we will never get out of debt had this country…](https://sms4smile.com/quotes/debbie-stabenow/so-when-folks-talk-about-the-deficit-and-leaving-the-deficit-for-our/) [Debbie Stabenow](https://sms4smile.com/quotes/author/debbie-stabenow/) > [If consumers are strong, if consumers are protected, if they can trust the marketplace and feel confident that they're not being cheated here and…](https://sms4smile.com/quotes/richard-cordray/if-consumers-are-strong-if-consumers-are-protected-if-they-can-trust/) [Richard Cordray](https://sms4smile.com/quotes/author/richard-cordray/) > [You have to motivate people to take almost certain failure to get a small amount of success, which has driven our economy forward.](https://sms4smile.com/quotes/edward-conard/you-have-to-motivate-people-to-take-almost-certain-failure-to-get-a/) [Edward Conard](https://sms4smile.com/quotes/author/edward-conard/) > [Now, anybody who thinks that we can move this economy forward with just a few folks at the top doing well, hoping that it's…](https://sms4smile.com/quotes/barack-obama/now-anybody-who-thinks-that-we-can-move-this-economy-forward-with/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [I do believe in tax incentives in order to move the economy forward.](https://sms4smile.com/quotes/steve-southerland/i-do-believe-in-tax-incentives-in-order-to-move-the-economy-forward/) [Steve Southerland](https://sms4smile.com/quotes/author/steve-southerland/) > [We need a game plan to deploy it very quickly to both move the economy forward and create the new businesses and jobs, and…](https://sms4smile.com/quotes/jeremy-rifkin/we-need-a-game-plan-to-deploy-it-very-quickly-to-both-move-the/) [Jeremy Rifkin](https://sms4smile.com/quotes/author/jeremy-rifkin/) ## 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…](https://sms4smile.com/quotes/edward-a-hudson/economic-growth-continued-by-means-of-a-succession-of-new-products/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“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.”](https://sms4smile.com/quotes/edward-a-hudson/sustained-growth-at-2-a-year-changes-lives-an-increase-at-2-a-year/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“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.”](https://sms4smile.com/quotes/edward-a-hudson/england-achieved-the-breakthrough-to-growth-england-s-growth-followed/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“There had previously, such as in Rome and the Netherlands, been growth over one or two centuries but this earlier growth was based on…](https://sms4smile.com/quotes/edward-a-hudson/there-had-previously-such-as-in-rome-and-the-netherlands-been-growth/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“Economic growth took place at the product and industry level; growth was driven by demand and enabled by supply expansion.”](https://sms4smile.com/quotes/edward-a-hudson/economic-growth-took-place-at-the-product-and-industry-level-growth/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“growth processes operate at the market level, not the economy-wide level. This requires us to look at growth industry by industry.”](https://sms4smile.com/quotes/edward-a-hudson/growth-processes-operate-at-the-market-level-not-the-economy-wide/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“The result was introduction and adoption of a sequence of new products. These new products started off small but, tapping the huge potential markets…](https://sms4smile.com/quotes/edward-a-hudson/the-result-was-introduction-and-adoption-of-a-sequence-of-new/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“At the industry level this process went, for example, from cotton, tobacco and wheat through railroads and automobiles, household appliances and electrical goods, to…](https://sms4smile.com/quotes/edward-a-hudson/at-the-industry-level-this-process-went-for-example-from-cotton/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“After the 1950s the leading causes of death became heart diseases, cancers and strokes, often known as “lifestyle diseases”. These have proved more difficult…](https://sms4smile.com/quotes/edward-a-hudson/after-the-1950s-the-leading-causes-of-death-became-heart-diseases/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“The development of information technology has taken place through a sequence of innovations, one building on another. Most of these innovations did not occur…](https://sms4smile.com/quotes/edward-a-hudson/the-development-of-information-technology-has-taken-place-through-a/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“Woolens were fundamentally different from cottons – advances in cotton processing made cotton goods accessible to everyone, creating a new market whereas advances in…](https://sms4smile.com/quotes/edward-a-hudson/woolens-were-fundamentally-different-from-cottons-advances-in-cotton/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“Within this stable and secure environment people had the ability and the incentive to pursue their own economic interests.”](https://sms4smile.com/quotes/edward-a-hudson/within-this-stable-and-secure-environment-people-had-the-ability-and/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“Whereas in other countries expansion stopped when an initial advantage had been fully exploited, England moved through a succession of new products and new…](https://sms4smile.com/quotes/edward-a-hudson/whereas-in-other-countries-expansion-stopped-when-an-initial/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“more and better resources going into agriculture allowed food production to increase over the centuries. GDP increased, although along an irregular path, at an…](https://sms4smile.com/quotes/edward-a-hudson/more-and-better-resources-going-into-agriculture-allowed-food/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [“per capita incomes scarcely changed; the new production was absorbed in supporting an increasing population. This was not economic growth. The economy expanded, it…](https://sms4smile.com/quotes/edward-a-hudson/per-capita-incomes-scarcely-changed-the-new-production-was-absorbed/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) [Explore all 50 Edward A. Hudson quotes ](https://sms4smile.com/quotes/author/edward-a-hudson/) ## More Economic growth quotes > [Advances in technology will continue to reach far into every sector of our economy. Future job and economic growth in industry, defense, transportation, agriculture,…](https://sms4smile.com/quotes/christopher-bond/advances-in-technology-will-continue-to-reach-far-into-every-sector/) [Christopher Bond](https://sms4smile.com/quotes/author/christopher-bond/) > [“Economic growth continued by means of a succession of new products which found growing and ultimately massive demand. Some of the new products were…](https://sms4smile.com/quotes/edward-a-hudson/economic-growth-continued-by-means-of-a-succession-of-new-products/) [Edward A. Hudson](https://sms4smile.com/quotes/author/edward-a-hudson/) > [The average well-being of our societies is not dependent any longer on national income and economic growth. ... But the differences between us and…](https://sms4smile.com/quotes/richard-g-wilkinson/the-average-well-being-of-our-societies-is-not-dependent-any-longer/) [Richard G. Wilkinson](https://sms4smile.com/quotes/author/richard-g-wilkinson/) > [In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation…](https://sms4smile.com/quotes/martin-feldstein/in-short-both-experience-and-economic-theory-imply-that-the-us-could/) [Martin Feldstein](https://sms4smile.com/quotes/author/martin-feldstein/) > [I was the chairman of the Budget Committee and the lead architect the last time it happened in Washington, and when we did it…](https://sms4smile.com/quotes/john-kasich/i-was-the-chairman-of-the-budget-committee-and-the-lead-architect-the/) [John Kasich](https://sms4smile.com/quotes/author/john-kasich/) > [“Since the 1960s, the national “average” of U.S. students on international tests has been middling to poor at best. Yet, the nation experienced unprecedented…](https://sms4smile.com/quotes/terry-marselle/since-the-1960s-the-national-average-of-u-s-students-on-international/) [Terry Marselle](https://sms4smile.com/quotes/author/terry-marselle/) > [Economic growth and 'future superpower' status is all very good but that doesn't guarantee dignity for every individual.](https://sms4smile.com/quotes/arvind-kejriwal/economic-growth-and-future-superpower-status-is-all-very-good-but/) [Arvind Kejriwal](https://sms4smile.com/quotes/author/arvind-kejriwal/) > [Education affects every major challenge we face in society. It creates economic growth, paves the way for peace and stability and helps erase the…](https://sms4smile.com/quotes/shakira/education-affects-every-major-challenge-we-face-in-society-it-creates/) [Shakira](https://sms4smile.com/quotes/author/shakira/) > [Increased spending, growing government debt and overreaching regulations are stifling job creation and economic growth.](https://sms4smile.com/quotes/joe-craft/increased-spending-growing-government-debt-and-overreaching/) [Joe Craft](https://sms4smile.com/quotes/author/joe-craft/) > [Following one of the most violent conflicts in human history, the United States and Japan built a deep and abiding friendship - an alliance…](https://sms4smile.com/quotes/ben-rhodes/following-one-of-the-most-violent-conflicts-in-human-history-the/) [Ben Rhodes](https://sms4smile.com/quotes/author/ben-rhodes/) > [“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…](https://sms4smile.com/quotes/mokokoma-mokhonoana/for-their-never-ending-endeavours-to-obtain-or-retain-wealth/) [Mokokoma Mokhonoana](https://sms4smile.com/quotes/author/mokokoma-mokhonoana/) > [Economic growth is our North Star. Anyone who suggests we can just cut our way to prosperity isn't being honest. Anyone who suggests we…](https://sms4smile.com/quotes/wes-moore/economic-growth-is-our-north-star-anyone-who-suggests-we-can-just-cut/) [Wes Moore](https://sms4smile.com/quotes/author/wes-moore/) > [“The English state thus constructed a system, later followed by other European countries, in which the ruler was subject to the law and in…](https://sms4smile.com/quotes/nicholas-wade/the-english-state-thus-constructed-a-system-later-followed-by-other/) [Nicholas Wade](https://sms4smile.com/quotes/author/nicholas-wade/) > [Entrepreneurship is the cornerstone to African development and the key to local value creation in Africa. I am determined to ensure that Africa's next…](https://sms4smile.com/quotes/tony-elumelu/entrepreneurship-is-the-cornerstone-to-african-development-and-the/) [Tony Elumelu](https://sms4smile.com/quotes/author/tony-elumelu/) > [Does inequality in the distribution of income increase or decrease in the course of a country's economic growth?](https://sms4smile.com/quotes/simon-kuznets/does-inequality-in-the-distribution-of-income-increase-or-decrease-in/) [Simon Kuznets](https://sms4smile.com/quotes/author/simon-kuznets/) [Browse all 732 Economic growth quotes ](https://sms4smile.com/quotes/about/economic-growth/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "“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.”", "creator": { "@type": "Person", "name": "Edward A. Hudson" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/edward-a-hudson/this-sequence-illustrates-one-crucial-feature-of-economic-growth-the/", "about": { "@type": "Thing", "name": "Economic growth" }, "@id": "https://sms4smile.com/quotes/edward-a-hudson/this-sequence-illustrates-one-crucial-feature-of-economic-growth-the/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/761/edward-a-hudson-13409_economic-growth_this-sequence-illustrates-one-crucial-fe_2141868.jpg", "contentUrl": "https://sms4smile.com/quotes/i/761/edward-a-hudson-13409_economic-growth_this-sequence-illustrates-one-crucial-fe_2141868.jpg", "url": "https://sms4smile.com/quotes/i/761/edward-a-hudson-13409_economic-growth_this-sequence-illustrates-one-crucial-fe_2141868.jpg", "width": 1080, "height": 1080, "caption": "“This sequence illustrates one crucial feature of economic growth – the succession of new products which met…” — Edward A. Hudson", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Edward A. Hudson", "item": "https://sms4smile.com/quotes/author/edward-a-hudson/" }, { "@type": "ListItem", "position": 4, "name": "“This sequence illustrates one crucial feature...", "item": "https://sms4smile.com/quotes/edward-a-hudson/this-sequence-illustrates-one-crucial-feature-of-economic-growth-the/" } ], "@id": "https://sms4smile.com/quotes/edward-a-hudson/this-sequence-illustrates-one-crucial-feature-of-economic-growth-the/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```