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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.” quote by William McKinley
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“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.”

William McKinley

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Reliance on competition drives innovation; without it, societies cling to outdated methods, stalling progress.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.

Key Takeaway

Encourage competition to spur advancement.

Themes

innovation economics progress

Mood

optimistic critical

Type

analytical historical

When to use this quote

  • business strategy
  • policy making
  • education reform
  • entrepreneurship

Key Concepts

market dynamics technological change industrial evolution

Questions to Reflect On

  • How does competition shape technological change?
  • What safeguards prevent harmful monopolies?
A Different Perspective

Competition can also create inequality and market failures.

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