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Capitalism Quotes

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Capitalism Quotes

“The world runs on individuals pursuing their self interests. The great achievements of civilization have not come from government bureaus. Einstein didn't construct his theory under order from a bureaucrat. Henry Ford didn't revolutionize the automobile industry that way.”

“As a rule, from what I've observed, the American Captain of Industry doesn't do anything out of business hours. When he has put the cat out and locked up the office for the night, he just relapses into a state of coma from which he emerges only to start being a Captain of Industry again.”

“Monopolistic capitalism is to blame for this; it sunders the right to own property from responsibility that owning property involves. Those who own only a few stocks have no practical control of any industry. They vote by postcard proxy, but they have rarely even seen "their" company. The two elements which ought to be inextricably joined in any true conception of private property - ownership and responsibility - are separated. Those who own do not manage; those who manage; those who manage and work do not control or own.”

“I would ask: Given the nature of free-market capitalism - where the rule is to rise to the top at all costs - is it possible to have a financial industry hero? And by the way, this is not a pop-culture trend we're talking about. There aren't many financial heroes in literature, theater or cinema.”

“A wise and frugal Government, which shall restrain men from injuring one another, which shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government, and this is necessary to close the circle of our felicities.”

“We have to accept that capitalism is coming to an end. We can't provide paid employment for people, all the industries with technology are counter-intuitive to profit, and we have to have a transition to the conceptualist society. The only way to do it fairly is as a social democracy, a radical social democracy, which isn't compromised by neo-liberalism and isn't compromised by the rich, and isn't compromised by hegemonic, authoritarian interests: to have that balance between the government, the private sector, and then the individual citizens again.”

“Having what I call crony capitalism, where you take money from successful small businesses, spend it in Washington on favored industries, on favored individuals, picking winners and losers in the economy, that's not pro-growth economics. That's not entrepreneurial economics. That's not helping small businesses. That's cronyism, that's corporate welfare.”

“In China the struggle to consolidate the socialist system, the struggle to decide whether socialism or capitalism will prevail, will still take a long historical period. However, we should all realize that the new system of socialism will unquestionably be consolidated. We can assuredly build a socialist state with modern industry, modern agriculture, and modern science and culture.”

“One of the methods used by statists to destroy capitalism consists in establishing controls that tie a given industry hand and foot, making it unable to solve its problems, then declaring that freedom has failed and stronger controls are necessary.”

“The economic miracle that has been the United States was not produced by socialized enterprises, by government-unon-industry cartels or by centralized economic planning. It was produced by private enterprises in a profit-and-loss system. And losses were at least as important in weeding out failures, as profits in fostering successes. Let government succor failures, and we shall be headed for stagnation and decline.”

“To take from one because it is thought that his own industry and that of his father's has acquired too much, in order to spare to others, who, or whose fathers have not exercised equal industry and skill, is to violate arbitrarily the first principle of association-the guarantee to every one of a free exercise of his industry and the fruits acquired by it.”

“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.”

“Making money isn't the main point of business. Money is a by-product.... A new product has been found, something of use to the world. A new industry moves into an undeveloped area. Factories go up, machines go in and you're in business. It's coincidental that people who've never seen a dime now have a dollar and barefooted kids wear shoes and have their faces washed. What's wrong with an urge that gives people libraries, hospitals, baseball diamonds and movies on a Saturday night?”

“You can't talk about solving the economic problem of the Negro without talking about billions of dollars. You can't talk about ending the slums without first saying profit must be taken out of the slums. You're really tampering and getting on dangerous ground because you are messing with folk then. You are messing with captains of industry. Now this means that we are treading in difficult water, because it really means that we are saying that something is wrong with capitalism.”

“Capitalism is a system in which the central institutions of society are, in principle, under autocratic control. Thus, a corporation or an industry is, if we were to think of it in political terms, fascist, that is, it has tight control at the top and strict obedience has to be established at every level. [...] Just as I'm opposed to political fascism, I am opposed to economic fascism. I think that until the major institutions of society are under the popular control of participants and communities, it's pointless to talk about democracy.”

“Just like how most if not all poor boys look up to and aspire to someday be rich men, most if not all underdeveloped and developing countries look up to and aspire to someday be developed countries.”