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Capitalism Quotes

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Capitalism Quotes

“At the heart of capitalism is the unification of knowledge and power. As Friedrich Hayek, the leader of the Austrian school of economics, put it, "To assume all the knowledge to be given to a single mind... is to disregard everything that is important and significant in the real world." Because knowledge is dispersed, power must be as well.”

Source: Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World

“The core of the Marxist critique of capitalism is that although the individual capitalist is rational (as liberals assume), the capitalist system itself is irrational.”

Individual Capitalism Assuming Core Rational Capitalist Irrational Critique Marxist

Book:The Political Economy of International Relations

Source: The Political Economy of International Relations

“I think historically modern economics, capitalist economics, tends to erode moral categories... And this is where I think the right gets capitalism wrong. They kind of assume that there is a moral equivalence or moral valence to capitalism, but I tend to think that economics erodes all the kind of cultural taboos and inhibitions and values it comes into contact with.”

Thinking Kind Values Moral Modern Capitalism Economics Assuming Contact Categories Capitalist Taboo Inhibitions Erode

Author:Michael Pollan

“I think there's a real tension between capitalism and morality. That's not to say these systems aren't powerful and useful, but to assume that capitalism can somehow assure moral behavior or character, that's just a pipe dream.”

Thinking Real Character Dream Powerful Moral Morality Behavior Capitalism Assuming Tension Pipe Pipe Dreams Moral Behavior

Author:Michael Pollan

“Every time I say the word capitalism, everyone just assumes I have plenty of Marxism in me, I do. But Russia and China had their bloody revolutions and even while they were Communist, they had the same idea about generating wealth - tear it out of the bowels of the earth. And now they have come out with the same idea in the end... you know, capitalism. But capitalism will fail, too.”

Knows Ideas Ends Earth Wealth Failing Tears Revolution Capitalism Assuming China Russia Plenty Communist Bloody Marxism Bowels

Author:Arundhati Roy

“Our capitalistic scheme in the latter years of the 20th century seems to have lost its way. We've had a "pathalogical change" from traditional owners capitalism where most of the rewards have gone to those who make the investments and assume the risks to a new and deeply flawed system of managers capitalism where the managers of our corporations our investment system, and our mutual funds are simply take too large a share of the returns generated by our corporations and mutual funds leaving the last line investors - pension beneficiaries and mutual fund owners at the bottom of the food chain.”

Risk Share Capitalism Assuming Investment Bottom Leaving Fund Mutual Investors 20th Century Flawed Pension Food Chain Mutual Fund

Author:John C. Bogle

“Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world. This opinion, which has never been confirmed by the facts, expresses a crude and naive trust in the goodness of those wielding economic power and in the sacralized workings of the prevailing economic system.”

“Fashion is the most intense expression of the phenomenon of neomania, which has grown ever since the birth of capitalism. Neomania assumes that purchasing the new is the same as acquiring value... If the purchase of a new garment coincides with the wearing out of an old one, then obviously there is no fashion. If a garment is worn beyond the moment of its natural replacement, there is pauperization. Fashion flourishes on surplus, when someone buys more than he or she needs.”

Ifs Needs Moments Values Natural Fashion Expression Birth Capitalism Assuming Intense Phenomenon Worn Garments Surplus Replacements Purchasing Old Fashion

Author:Stephen Bayley

“The paradigm of competition is a race: by rewarding the winner, we encourage everyone to run faster. When capitalism really works this way, it does a good job; but its defenders are wrong in assuming it always works this way.”

Way Doe Running Jobs Race Capitalism Competition Assuming Faster Winner Good Job Paradigm Defenders

Book:Free Software, Free Society: Selected Essays of Richard M. Stallman

Source: Free Software, Free Society: Selected Essays of Richard M. Stallman