Quote by Herbert Hoover
Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves.
Summary
This quote suggests that economic depression cannot be solved solely through government intervention or policy decisions. Instead, the healing process lies in the hands of the economic agents themselves, namely the producers and consumers. It implies that economic recovery can only be achieved through individual actions, such as increased productivity by producers and increased consumption by consumers. In other words, the quote highlights the importance of collective efforts from all participants within the economic system to overcome and restore economic prosperity during periods of depression.
Topics
Business
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