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Capitalism Quotes

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Capitalism Quotes

“Capitalism had arisen through the misuse and exaggeration of certain rights, notably the right of property - the basis of economic freedom - and the right of contract, which is one of the main functions of economic freedom. Therefore, even under Capitalism, so long as the old principles were remembered it was possible to recall the principles whereby Society had once been sane and well ordered.”

“People without homes will not quarrel with their leaders. This is well known among our principle men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd.”

“Punishing enemies and rewarding friends - politics Chicago style - seems to be the unifying principle that helps explain the Obamacare waivers, the NLRB action against Boeing and IRS's gift tax assault on 501(c)(4) donors. They look like examples of crony capitalism, bailout favoritism and gangster government. One thing they don't look like is the rule of law.”

“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.”

“Capitalism is based on the principle that everything has to be privately owned; it can't be held in common. There is even a dogma, which is today called, the "tragedy of the commons" which holds that if things are held in common they are going to be destroyed. If they're privatized, like you give them to Bechtel or Monsanto or ExxonMobil, then they'll be preserved because that's the capitalist's religion.”

“Modern capitalism needs men who cooperate smoothly and in large numbers; who want to consume more and more; and whose tastes are standardized and can be easily influenced and anticipated. It needs men who feel free and independent, not subject to any authority or principle or conscience-- yet willing to be commanded, to do what is expected of them, to fit into the social machine without friction; who can be guided without force, led without leaders, prompted without aim-- except the one to make good, to be on the move, to function, to go ahead.”

“In principle as a philosophy, a model of organising society, Communism has to be respected. As regards the use of certain methods to advance social justice and greater regulation by the state, there are certain methods that are useful. What we need is a new society, a new civilization and convergence of all that is best in both [Communism and Capitalism]”

“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.”

“Capitalism drives the employers to do their worst to the employed, and the employed to do the least for them. And it boasts all the time of the incentive it provides to both to do their best! . . . The reason the Capitalist system has worked so far without jamming for more than a few months at a time, and then only in places, is that it has not yet succeeded in making a conquest of human nature so complete that everybody acts on strictly business principles.”

“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.”

“Capitalism is chronically unstable.Boom and bust has always marked capitalism in the United States. There were panics in 1785, 1791, 1819, 1857, 1869, 1873, 1907, 1929 and 1987.In economies and politics, as in war, an astonishing number of people die, like the man on the railway crossing, defending their right of way. This is a poorly developed instinct in Switzerland. No country so firmly avows the principles of private enterprise but in few have the practical concessions to socialism been more numerous and varied.”

“Capitalism brainwashes us through advertising and the skewing of priorities .... We need economies that promote human values, seek to limit suffering, and are committed to democratic principles, rather than ones dependent on global trade and a blind commitment to neo-liberal economic policies.”

“The moral justification of capitalism does not lie in the altruist claim that it represents the best way to achieve 'the common good.' It is true that capitalism does -- if that catch-phrase has any meaning -- but this is merely a secondary consequence. The moral justification for capitalism lies in the fact that it is the only system consonant with man's rational nature, that it protects man's survival qua man, and that its ruling principle is: justice”

“The challenge here is to design a system where market incentives, including profits and recognition, drive those principles to do more for the poor. I like to call this idea creative capitalism, an approach where governments, businesses, and nonprofits work together to stretch the reach of market forces so that more people can make a profit, or gain recognition, doing work that eases the world's inequities.”

“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.”