Achieve Quote by Marriner Stoddard Eccles
“As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth ... to provide men with buying power. ... Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth. ... The other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.”
About This Quote
Source Speech: Economic Commentary, 1930s, United States
Mass production creates wealth that must be matched by mass consumption, but wealth concentration forces many into debt, halting economic activity.
In simple terms: Wealth must be shared to keep the economy moving.
Key Takeaway
Ensure broad access to purchasing power.
Themes
economics
wealth distribution
debt
production
consumption
Mood
concerned
analytical
Type
economic
critical
When to use this quote
- Policy making
- financial planning
- social welfare programs
- business strategy
Key Concepts
Capitalism
income inequality
financial cycles
Questions to Reflect On
- How can policy prevent wealth from concentrating in few hands?
- What mechanisms can sustain consumer demand?
A Different Perspective
Wealth concentration can persist despite policy attempts.
