Economic growth without social progress lets the great majority of the people remain in poverty, while a privileged few reap the benefits of rising abundance.
Interpretation
Economic growth must be accompanied by social progress to benefit all, not just a privileged few.
In this quote, John F. Kennedy emphasizes that mere economic growth is insufficient if it does not lead to social improvement. It criticizes a system where wealth increases but the majority of the population remains impoverished while a small elite enjoys the benefits, highlighting the need for inclusive progress that addresses inequality and uplifts everyone in society.
In practice
This quote could be used in a political speech advocating for social reforms.
The great battleground for the defense and expansion of freedom today is the whole southern half of the globe... the lands of the rising peoples. Their revolution is the greatest in human history. They seek an end to injustice, tyranny and exploitation. More than an end, they seek a beginning.
I had always enjoyed the title of Commander-in-Chief until I was informed ... that the only forces that cannot be transferred from Washington without my express permission are the members of the Marine Corps Band. Those are the only forces I have. I want it announced that we propose to hold the White House against all odds at least for some time to come.
I am talking about genuine peace, the kind of peace that makes life on earth worth living, the kind that enables men and nations to grow and to hope and to build a better life for their children - not merely peace for Americans but peace for all men and women - not merely peace in our time but peace for all time.
I just received the following wire from my generous Daddy; Dear Jack, Don't buy a single vote more than is necessary. I'll be damned if I'm going to pay for a landslide.
Tolerance implies no lack of commitment to one's own beliefs. Rather it condemns the oppression or persecution of others.
Mankind must put an end to war before war puts an end to mankind.
Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.
History does not provide any example of capital accumulation brought about by a government. As far as governments invested in the construction of roads, railroads, and other useful public works, the capital needed was provided by the savings of individual citizens and borrowed by the government.
It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only those individuals know.
There can be no rise in the value of labour without a fall of profits.
If low taxes were the way that people like me created wealth, then we'd be starting our companies in the Congo or Somalia or Afghanistan, but we're not. We come to places where there are lots and lots of customers.
History proves... that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.
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