Leland Stanford: Labor and Skill

Posted by admin on Thursday, August 18, 2022

Meaning of Leland Stanford Money Quote: saying money facilitates cooperation between workers and their skills. Leland Stanford said:
 
Money is the great tool through whose means labor and skill become universally co-operative Quote
 

“Money is the great tool through whose means labor and skill become universally co-operative” — Leland Stanford

 

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In this quote, Leland Stanford seems to be emphasizing the important role that money plays in facilitating cooperation and productivity in an economy. Some key points:

  • Stanford refers to money as a “great tool” – suggesting it functions practically as an instrument enabling coordination and exchange of value.
  • He states that through money, “labor and skill become universally co-operative” across a wide network or system.
  • This implies that money provides a medium through which the efforts, talents and outputs of diverse individuals and businesses can be connected, combined and leveraged together in mutually beneficial ways.
  • Stanford’s quote conveys the perspective that money serves as a lubricant allowing specialization and division of labor to flourish as it eases collaboration and trade between producers across distances.

Overall, the quote portrays Stanford’s view that money is a critical mechanism or “tool” that unlocks greater cooperation, interdependence and productivity potential by acting as a bridge facilitating the exchange of value between all participants in an economy according to their varying skills, resources and needs. It highlights money’s role in optimizing collaboration on a large scale.

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