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Our people are steadily increasing their spending for higher standards of living. Today there are almost nine automobiles for each ten families, where seven and one-half years ago only enough automobiles were running to average less than four for each ten families. The slogan of progress is changing from the full dinner pail to the full garage. Our people have more to eat, better things to wear, and better homes.

Herbert Hoover#29

EconomyProgressConsumptionWealth

About this quote

What does it mean?
Living standards rose as families bought more cars and goods, shifting the symbol of progress from food to vehicles.
In plain terms
People bought more cars and goods, showing higher living standards.
What can you take from it?
Material growth can signal improving life quality.

Where it applies

  • economic reports
  • campaign speeches
  • market analysis

Putting it to work

  • track household assets
  • measure consumption trends
  • assess affordability

Questions to consider

  • Is material growth enough for progress?
  • How do we measure quality of life?

Another view

More goods do not guarantee well-being for all segments of society.

More from Herbert Hoover

  1. The American people from bitter experience have a rightful fear that great business units might be used to dominate our industrial life and by illegal and unet…

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  2. Wages have increased, the cost of living has decreased. The job of every man and woman has been made more secure. We have in this short period decreased the fe…

    Permalink to quote #30
  3. Liberalism should be found not striving to spread bureaucracy but striving to set bounds to it. True liberalism seeks all legitimate freedom first in the confi…

    Permalink to quote #27

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