“We do not have free market capitalism in America; we have crony capitalism. There is a huge difference between free market capitalism that democratizes a country and makes us more efficient and prosperous and corporate crony capitalism.” CountryAmericaDifferencesHugeCapitalismCorporateEfficientFree MarketProsperousFree Market CapitalismCroniesCrony Capitalism Author:Robert F. Kennedy, Jr.
“Unrestricted laissez faire capitalism allocates resources in a most efficient way to satisfy human wants without regard to the rationality or morality of those desires.” WayWantHumansPoliticalDesirePoliticsMoralityCapitalismResourcesRegardEfficientRationalityLaissez FaireLaissez Faire Capitalism Author:Jerry Pournelle
“Capitalism has taught us that markets are always more efficient than hierarchical managerial coordination. But in a situation where those three conditions aren't met, I can't outsource or partner with you because markets don't function in the absence of sufficient information.” I CanThreeSituationConditionsInformationTaughtMetsCapitalismFunctionAbsencePartnersSufficientEfficientTaught UsCoordination Author:Clayton Christensen
“From the time I first understood economic principles, I was always concerned also that any system be operated on an efficient basis, which meant decentralization because knowledge is not concentrated anywhere. It's based on motivation, and so these are the advantages of, say, the cautious case for capitalism, that the market system is efficient.” FirstsMotivationPrinciplesCasesEconomicUnderstoodCapitalismAdvantageConcernedBasesEfficientCautiousDecentralization Author:Kenneth Arrow
“I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable.” ThinkingWayMadeEndsEconomicCapitalismSightAlternativesEfficient Author:John Maynard Keynes
“For the other end of the spectrum, the 50 to 85 percent of the world's population who are not the recipients of privilege, the world they know is almost certainly worse than any their earlier counterparts knew. It is likely they are worse off materially, despite the technological changes. In substantive as opposed to formal terms, they are more, not less, subject to arbitrary constraints, since the central mechanisms are more pervasive and more efficient. And they bear the brunt of the various kinds of psychic malaise, as well as of the destructiveness of civil wars.” KnowsWorldWellsKindWarEndsTermSubjectsBearsPercentCapitalismPrivilegePopulationVariousDespiteCivil WarMechanismEfficientFormalTechnologicalPsychicsArbitrarySpectrumConstraintsCounterpartsMalaiseDestructivenessTechnological Change Author:Immanuel Wallerstein
“..where effective competition can be created, it is a better way of guiding individual efforts than any other... regards competition as superior not only because it is in most circumstances the most efficient method known but even more because it is the only method by which our activities can be adjusted to each other without coercive or arbitrary intervention of authority.” WayIndividualEffortKnownCircumstancesActivityAuthorityCapitalismRegardMethodCompetitionSuperiorsEfficientFree MarketArbitraryInterventionBetter WaysIndividual Effort Author:Friedrich August von Hayek