Business Quote by William McKinley
“Without competition we would be clinging to the clumsy antiquated processes of farming and manufacture and the methods of business of long ago, and the twentieth would be no further advanced than the eighteenth century.”
About This Quote
Source Speech: Inaugural Address, William McKinley, 1897
Reliance on competition drives innovation; without it, societies cling to outdated methods, stalling progress.
In simple terms: Competition fuels progress; without it, we stay stuck.
Encourage competition to spur advancement.
Themes
Mood
Type
When to use this quote
- business strategy
- policy making
- education reform
- entrepreneurship
Key Concepts
Questions to Reflect On
- How does competition shape technological change?
- What safeguards prevent harmful monopolies?
Competition can also create inequality and market failures.