Country Quote by Simon Kuznets
“A country's economic growth may be defined as a long-term rise in capacity to supply increasingly diverse economic goods to its population, this growing capacity based on advancing technology and the institutional and ideological adjustments that it demands.”
About This Quote
Source Book: National Income and Its Interpretation, Simon Kuznets, 1955
Economic growth is a sustained increase in a nation's ability to produce a wider range of goods, driven by technology and institutional change.
In simple terms: Growth means producing more varied goods over time.
Key Takeaway
Invest in technology and institutions.
Themes
economics
development
technology
institutions
growth
Mood
analytical
optimistic
Type
economic
policy
When to use this quote
- government planning
- business strategy
- education reform
- infrastructure projects
Key Concepts
GDP
capacity building
innovation
policy reform
Questions to Reflect On
- How can policy ensure inclusive growth?
- What role does technology play in societal change?
A Different Perspective
Growth can be uneven and may increase inequality.
![“That country [Carthage] was rapidly sinking into the state of barbarism from whence it had been raised by the Phoenician colonies and Roman laws; and every step of intestine discord was marked by some deplorable victory of savage man over civilized society.” quote by Edward Gibbon](https://sms4smile.com/quotes/img-quotes/70c/edward-gibbon-710_barbarism_that-country-carthage-was-rapidly-sinkin_393.jpg)
