Skip to content
quotesby

About this quote

What does it mean?
Hoover argues that visible economic progress proves the correctness of the system.
In plain terms
Because we are making progress, our economic system must be correct.
What can you take from it?
Visible progress is evidence that a system is working.

Where it applies

  • defending economic systems
  • analyzing growth
  • countering critics

Putting it to work

  • point to growth as proof
  • justify economic policies

Questions to consider

  • Does progress prove a system is right?
  • Who benefits from economic growth?

Another view

Progress does not guarantee fairness or that the system works for everyone.

More from Herbert Hoover

  1. Our country has deliberately undertaken a great social and economic experiment, noble in motive and far-reaching in purpose.

    Permalink to quote #18
  2. The swimming hole is still in use. It has the same mudbank. It is still impossible to dress without carrying mud home in one's inner garments. As an engineer I…

    Permalink to quote #20
  3. I'm the only person of distinction who's ever had a depression named for him.

    Permalink to quote #17

Related quotes

  1. [Gross national product] measures everything, in short, except that which makes life worthwhile.

    Robert F. KennedyRobert F. Kennedy quote #8
  2. Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money tha…

    Milton FriedmanMilton Friedman quote #1
  3. And gain is gain, however small.

    Robert BrowningRobert Browning quote #3