Confidence Quote by Herbert Hoover
“I am convinced that ... we have reestablished confidence. Wages should remain stable. A very large degree of industrial unemployment and suffering which would otherwise have occurred has been prevented.”
About This Quote
Source Speech: Economic Report, Herbert Hoover, 1931
Stabilizing wages prevented massive unemployment and suffering during industrial downturns.
In simple terms: Stable wages reduced job loss.
Support wage stability in crises.
Themes
Mood
Type
When to use this quote
- recession response
- policy planning
- union negotiations
- social safety nets
- economic forecasting
Key Concepts
Questions to Reflect On
- What are the long‑term effects of wage stabilization?
- How can policy balance wages and productivity?
May not address underlying structural issues.