Zhang Xin Quotes

In a few hundred years you have achieved in America what it took thousands of years to achieve in Europe.

Used to the conditions of a capitalistic environment, the average American takes it for granted that every year business makes something new and better accessible to him. Looking backward upon the years of his own life, he realizes that many implements that were totally unknown in the days of his youth and many others which at that time could be enjoyed only by a small minority are now standard equipment of almost every household.

Without competition we would be clinging to the clumsy antiquated processes of farming and manufacture and the methods of business of long ago, and the twentieth would be no further advanced than the eighteenth century.

What is applicable is to understand that first of all China has undergone a huge revolution in the last years. Anyone who saw China as I did in 1971 - and for that matter even in 1979, because not much had changed between 1971 and 1979 - and sees China today, knows one is in a different economic system.

Mass prosperity came with the mass innovation that sprung up in 1815 in Britain, soon after in America, and later in Germany and France: It brought sustained growth to these nations - also to nations with entrepreneurs willing and able to copy the innovations.

America's peak years of indigenous innovation ran from the 1820s to the 1960s. There were a few financial panics and two depressions, to be sure. But in this period, a frenzy of creative activity, economic competition and rapid growth in national income provided widening economic inclusion, rising wages for all, and engaging careers for most.

I see little alteration at Lyons since I formerly passed through it. Its manufactories are, nevertheless, flourishing, though less improvement than could be expected is visible in the external aspect of the place.

The social and economic impact of innovative American researchers, companies, and workers over the course of U.S. history have been enormous.

Innovation really is the life blood of our American economy... looking back at the stories of Thomas Edison, Alexander Graham Bell, and the Wright Brothers, you look at emergence to technology innovation and what it has done for our economy. We need to continue that.

Economic progress means the discovery and application of better ways of doing things to satisfy our wants. The piping of water to a household that previously dragged it from a well, the growing of two blades of grass where one grew before, the development of a power loom that enables one man to weave ten times as much as he could before, the use of steam power and electric power instead of horse or human power - all these things clearly represent economic progress.

There might be new technology, but technological progress itself was nothing new - and over the years it had not destroyed jobs, but created them.

Our modern lifestyle is not a political creation. Before 1700, everybody was poor as hell. Life was short and brutish. It wasn't because we didn't have good politicians; we had some really good politicians. But then we started inventing - electricity, steam engines, microprocessors, understanding genetics and medicine and things like that. Yes, stability and education are important - I'm not taking anything away from that - but innovation is the real driver of progress.

Innovating economies expand and develop. Economies that do not add new kinds of goods and services, but continue only to repeat old work, do not expand much nor do they, by definition, develop.

But the broader lesson of the first Industrial Revolution is more like the Indy 500 than John Henry: economic progress comes from constant innovation in which people race with machines. Human and machine collaborate together in a race to produce more, to capture markets, and to beat other teams of humans and machines.

All of the progress that the US has made over the last couple of centuries has come from unemployment. It has come from figuring out how to produce more goods with fewer workers, thereby releasing labor to be more productive in other areas. It has never come about through permanent unemployment, but temporary unemployment, in the process of shifting people from one area to another.

Coolidge and his treasury secretary Mellon loved new technology. Like JFK, C.C. divined that a new technology could lift the nation out of its doldrums; the only difference was that JFK's new technology was space travel, and Coolidge's travel by airplane.

What we are entering is a power age, and the importance of the power age lies in its ability, rightly used with the wage motive behind it, to increase and cheapen production so that all of us may have more of this world's goods. The way to liberty, the way to equality of opportunity, the way from empty phrases to actualities, lies through power

There are things I admire, for example, about South Korea or Singapore. I admire their history, their development and how intensively they have invested in their people and in technology.

For me, one of the most fertile consequences of the space program is the extent to which it stimulates people to innovate because they want to create a different tomorrow than what they're living in today. And it's that culture of innovation that spawns entirely new economies.

You know, whatever it takes. It's very important obviously from an economic point of view because of the need for innovation, for progress, to improve the standard of living of people. But I also think it's a critical issue in geopolitics too.

It's not the genius who is 100 years ahead of his time but average man who is 100 years behind it.

I shall not be deterred by people who don't see where the future of Africa lies. It is the short-sighted people who put their opinions in writing. They don't understand that the future of all countries lies in processing.

About 800 million people in India are below the age of 35 years. Their aspirations, energy, enterprise and skills will be the force for India's economic transformation.

The capitalist system has lifted mankind out of mass poverty. It is this system that in the last century, in the last generation, even in the last decade, has acceleratively been changing the face of the world, and has provided the masses of mankind with amenities that even kings did not possess or imagine a few generations ago.

It's amazing how much progress there's been in China, and also India. Those are the places that really matter - they're half of the world's population. They're the places where things are enormously better now than they were 50 years ago. And I don't see anything that's going to stop that.