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Capitalism Quotes

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Capitalism Quotes

“More and more details coming out now about spoiled rich kid Osama bin Laden. Time reports this week he was one of 52 kids. Mother must be exhausted. This guy inherited $80 million at age 13 and has since expanded it to $300 million through construction, smart investments and gas and oil investments. This way, he can use the money in his war against capitalism.”

“You know that the population is of this planet is now ten times greater than it was in the ages preceding capitalism.; you know that all men today enjoy a higher standard of living than your ancestors did before the age of capitalism. But how do you know that you are the one out of ten who would have lived in the absence of capitalism? The mere fact that you are living today is proof that capitalism has succeeded, whether or not you consider your own life very valuable.”

“If you have only a little capital and are young today, there are fewer opportunities than when I was young. Back then, we had just come out of a depression. Capitalism was a bad word. There had been abuses in the 1920s. A joke going around then was the guy who said, 'I bought stock for my old age and it worked - in six months, I feel like an old man!' "It's tougher for you, but that doesn't mean you won't do well - it just may take more time. But what the heck, you may live longer."”

“Through private investment capitalism kept raising the productivity of labor to new heights. Parents were able to earn enough so their offspring did not have to join the work force at an early age. This produced something unique in history: Childhood, a time when the young could experience the innocence of play and opportunity of schooling before entering the world of work.”

“Because I know that the early Greeks and Romans and the early Europeans at that age did not see racism as we see it now - because racism was created to justify slavery to build the capital for capitalism - and back in the day they respected talent over race. We had an African Pope in the late 5th century, we had an African Emperor of Rome, and early church Fathers were black.”

“Neither capitalism nor socialism is capable of meeting our unprecedented global challenges. Both came out of early industrial times, and we are now well into the post-industrial age. Both came out of times when the West still oriented much more to the domination side of the social scale, so both these theories did not pay attention to caring for people and nature.”

“Through much of its history, the US did not have high inequality as compared with Europe. Less so, in fact. That began to change in the industrial age, reaching a peak in 1928, after the forceful destruction of the labor movement and crushing of independent thought. Largely as a result of labor mobilization, inequality declined during the Great Depression, a tendency continuing through the great growth period of regulated capitalism in the early postwar decades.”

“Under capitalism the common man enjoys amenities which in ages gone by were unknown and therefore inaccessible even to the richest people. But, of course, these motorcars, television sets and refrigerators do not make a man happy. In the instant in which he acquires them, he may feel happier than he did before. But as soon as some of his wishes are satisfied, new wishes spring up. Such is human nature.”

“Very few of the heroes of the Golden Age of American finance had much interest in the solid realities of what underlay their structure of stocks and bonds and credits. Later on, a Henry Ford might introduce an era of intensely production-minded captains of industry, but the Harrimans, Morgans, Fricks, and Rockefellers were far more interested in the exciting manipulation of huge masses of intangible wealth than in the humdrum business of turning out goods.”

“Capitalism is essentially a system of mass production for the satisfaction of the needs of the masses. It pours a horn of plenty upon the common man. It has raised the average standard of living to a height never dreamed of in earlier ages. It has made accessible to millions of people enjoyments which a few generations ago were only within the reach of a small élite.”

“We do not assert that the capitalist mode of economic calculation guarantees the absolutely best solution of the allocation of factors of production. Such absolutely perfect solutions of any problem are out of reach of mortal men. What the operation of a market not sabotaged by the interference of compulsion and coercion can bring about is merely the best solution accessible to the human mind under the given state of technological knowledge and the intellectual abilities of the age's shrewdest men.”

“All the talk about the so-called unspeakable horror of early capitalism can be refuted by a single statistic: precisely in these years in which British capitalism developed, precisely in the age called the Industrial Revolution in England, in the years from 1760 to 1830, precisely in those years the population of England doubled.”

“So much were employers of wage-labor unenthusiastic about proletarianization that, in addition to fostering the gender age division of labor, they also encouraged, in their employment patters and through their influence in the political arena, recognition of defined ethnic groups, seeking to link them to specific allocated roles in the labor-force, with different levels of real remuneration for their work. Ethnicity created a cultural crust which consolidated the patterns of semi-proletarian household structures.”

“It looks like the age of the mass is behind us and the age of the individual is upon us. The chasm that now exists between new people and old organizations is destroying economic value and inhibiting the emergence of a new chapter of capitalism aligned with the needs of this new society. The new purpose of commerce is to provide the tools, platforms, and relationships, digital or human, that enable individuals to live the lives they choose.”

“I don't think that the contradictions between capitalism and socialism can be resolved by war. This is no longer the age of the bow and arrow. It's the nuclear age, and war can annihilate us all. The only way to achieve solutions seems to be for the different social systems to coexist.”