A Quote by Sun Yat-sen
In my International Development Scheme, I propose that the profits of this industrial development should go first to pay the interest and principal of foreign capital invested in it; second to give high wages to labor; and third to improve or extend the machinery of production.
Related Quotes
The high stage of world-industrial development in capitalistic production finds expression in the extraordinary technical development and destructiveness of the instruments of war.
Throughout the industrial era, economists considered manufactured capital - money, factories, etc. - the principal factor in industrial production, and perceived natural capital as a marginal contributor. The exclusion of natural capital from balance sheets was an understandable omission. There was so much of it, it didn't seem worth counting.
The more the division of labor and the application of machinery extend, the more does competition extend among the workers, the more do their wages shrink together.
The principal impact of foreign enterprise on the development of the underdeveloped countries lies in hardening and strengthening the sway of merchant capitalism, in slowing down and indeed preventing its transformation into industrial capitalism.
Production functions involving only land, labor and capital... never work and never explain economic development.
The industrial leader of the 20th century was a system-builder. He was a visionary in terms of what could be built; got the capital together; certainly convinced investors that it was possible; and then ran a high-volume production system that would spew out a vast array of almost identical goods and services. They would be changed from time to time; there was research and development, to be sure. But the system was built around production, not innovation.
We preach free enterprise capitalism. We believe in it, we give our lives in war for it, but the closest most of us come to profiting from it are a few miserable shares of stock in a company that doesn't pay large enough dividends to keep a small mouse in cheese. The truth is, most of us are job serfs. At a time when invested capital returns 20 to 30 percent, we have no capital. We only have our wages and salaries, and a debt so high that something like 20c on every dollar we earn is spent to pay off what we owe.
Development seems to have become the agenda only of government. It is seen as a scheme. That should not be the case. Development should be everyone`s agenda. It should be a people's movement.
We are firmly convinced that private capital, Chinese as well as foreign, must be given liberal opportunities for broad development in postwar China; for China needs industrial growth.
The First Industrial Revolution used water and steam power to mechanize production. The Second used electric power to create mass production. The Third used electronics and information technology to automate production.
Australia is a very healthy country which goes along with the fact that it's very high on the Human Development Index, high wealth, good levels of education. So Australia ranks right up there, second or third on the Human Development Index. And Indigenous Australians, if you treated them as if they were a separate country, would rank probably about 100th or below 100.
Capital is a result of labor, and is used by labor to assist it in further production. Labor is the active and initial force, and labor is therefore the employer of capital.
Profit is vital to human well-being. Profit is the payment to entrepreneurs just as wages are payments to labor, interest to capital and rent to land. In order to earn profits in free markets, entrepreneurs must identify and satisfy human wants and do so in a way that economizes on society's scarce resources.
It is not competition, but monopoly, that deprives labor of its product. Destroy the banking monopoly, establish freedom in finance, and down will go interest on money through the beneficent influence of competition. Capital will be set free, business will flourish, new enterprises will start, labor will be in demand, and gradually the wages of labor will rise to a level with its product.
You know, development sometimes is viewed as a project in which you give people things and nothing much happens, which is perfectly valid, but if you just focus on that, then you'd also have to say that venture capital is pretty stupid, too. Its hit rate is pathetic. But occasionally, you get successes, you fund a Google or something, and suddenly venture capital is vaunted as the most amazing field of all time. Our hit rate in development is better than theirs, but we should strive to make it better.
Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.
Related Authors
Brigham Young Quotes
American
Leader
Dalai Lama Quotes
Tibetan
Leader
Desmond Tutu Quotes
South African
Leader
Ezra Taft Benson Quotes
American
Leader
Henry B. Eyring Quotes
American
Leader
Mahatma Gandhi Quotes
Indian
Leader
Mao Zedong Quotes
Chinese
Leader
Marcus Aurelius Quotes
Roman
Leader
Margaret Thatcher Quotes
English
Leader
Martin Luther Quotes
German
Leader
Martin Luther King, Jr. Quotes
American
Leader
Mata Amritanandamayi Quotes
Indian
Leader
Paramahansa Yogananda Quotes
Indian
Leader
Sri Sri Ravi Shankar Quotes
Indian
Leader
Vladimir Lenin Quotes
Russian
Leader
William Penn Quotes
English
Leader