Economic Analysis Project

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Economic Analysis Project
Abraham Lincoln was an American president in the 19th century. He was president for four years, 1861-1865. Many of his quotes, phrases and statements had great impact in the economy on an individual level and whole economy in general. He is remembered for his intensive efforts in bringing development to America. He helped build rail roads and participated actively in the civil war.
Lincoln’s quotes on the economy are sensible and from a personal perspective I agree with them. The quote ‘you cannot strengthen the weak by weakening the strong’ and ‘you cannot help the poor by destroying the rich’ have related meanings and explanations (Kelly para 4). The weak and the poor fall in the same place. It is impossible to better their standards by simply destroying the rich or the strong. There is no connection between the two and simply the situation will be worsened by destroying the rich and strong with an aim of improving the weak and poor. Rather, it is important to keep the rich in the better position as the situation is half worse than destroying them.
‘You cannot bring about prosperity by discouraging thrift’, ‘you cannot help the wage earner by pulling down the wage payer’ and ‘you cannot further the brotherhood of a man by encouraging class hatred’ have relatively a similar explanation (Kelly para 5). In terms of economy improvement, it is only effective to boost the weaker sides than pulling down the strong sides aiming at improving the weak sides. For instance, if good relations are to be built between people, rebuking hatred amongst them is not as effective as preaching and encouraging brotherhood and love. The same applies to the situation of wages. Pulling down the wage payer cannot improve or increase the wages the earner is making. This applies directly to the economy.
‘You cannot keep out of trouble by spending more than you earn’ is simply relevant to real life. Spending more than one earns means there will be much strain of which the salary cannot support (Kelly para 6). This increases the debts and only increases trouble instead of solving problems. Spending more than you earn is equivalent to trying to spend while there is no income. This is because the extra bit of spending above the available income has no earnings to support them. ‘You cannot help men permanently by doing for them what they c...