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Quote by Benedict Groeschel

“We are developing in the United States a huge underclass of unwanted people, many of them the descendants of the exploitation of the South American and Latin American countries by American piratical capitalism. Not all capitalism is piratical, but some of it certainly is. And we have a fantastic gap beginning to exist between rich and poor.”

Quote by Benedict Groeschel

Author

Benedict Groeschel

Benedict Groeschel was a renowned author. Born on July 23, 1933, and passed away on October 3, 2014, Groeschel's works spanned across religion, philosophy, and spirituality, which were well-received by readers. more

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“Wealth accumulates, and men decay.”

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Author:Oliver Goldsmith

“There is no intrinsic reason for the scarcity of capital.”

Reason Capitalism Scarcity

Book:Thorstein Veblen, R.H. Tawney, John Maynard Keynes

Source: Thorstein Veblen, R.H. Tawney, John Maynard Keynes

“Then came the second Amsterdam discovery, although the principle was known elsewhere. Bank deposits...did not need to be left idly in the bank. They could be lent. The bank then got interest. The borrower then had a deposit that he could spend. But the original deposit still stood to the credit of the original depositor. That too could be spent. Money, spendable money, had been created. Let no one rub his or her eyes. It's still being done-every day. The creation of money by a bank is as simple as this, so simple, I've often said, that the mind is slightly repelled.”

Needs Mind Said Stills Done Eye Left Interest Simple Known Principles Creation Discovery Capitalism Originals Credit Elsewhere Her Eyes Being Done Deposits Amsterdam Borrowers

Author:John Kenneth Galbraith

“The Federal Reserve the privately owned U.S. central bank definitely caused The Great Depression by contracting the amount of currency in circulation by one third from 1929 to 1933.”

Amount Capitalism Thirds Currency Reserves Great Depression Circulation Federal Reserve Central Banks Contracting

Author:Milton Friedman

“A rentier is an investor whose relationship to a company or enterprise is strictly limited to the ownership of financial wealth (such as stocks or bonds) and the receipt of income on that wealth (such as dividends or interest). The financial system performs dismally at its advertised task, that of efficiently directing society's savings towards their optimal investment pursuits. The system is stupefyingly expensive, gives terrible signals for the allocation of capital, and has surprisingly little to do with real investment.”

“No politician can praise unemployment or inflation, and there is no way of combining high employment with stable prices that does not involve some control of income and prices. Otherwise the struggle for more consumption and more income to sustain it-a struggle that modern corporations, modern unions and modern democracy all facilitate and encourage-will drive up prices. Only heavy unemployment will then temper this upward thrust. Not many wish to confront the truth that the modern economy gives a choice only between inflation, unemployment, or controls.”

“Growth is the mantra of our society because the economy can't remain healthy without growth.Impregnable monopolies aside (and these are few), profits are both the hallmark of capitalism and its Achilles heel, for no business can permanently maintain its prices much above its costs. There is only one way in which profits can be perpetuated; a business-or an entire economy-must grow.”

Way Grows Growth Economy Healthy Cost Capitalism Profit One Way Our Society Heels Monopoly Mantras Hallmark Achilles Achilles Heel

Author:Robert Heilbroner

“Capitalism is the only society in human history in which neither tradition nor conscious direction supervises the total effort of the community; it is the only society in which the future, the needs for tomorrow, are entirely left to an automatic system.”

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