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Capitalism Quotes

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Capitalism Quotes

“He should release the tax returns tomorrow. It's crazy. You've got to release six, eight, ten years back tax returns. Take the hit for a day or two. He has to give a big speech in defense of capitalism, and that will elevate, I think, this race above this tactical back and forth, which I do think he's on the margin of losing.”

“The brilliant creative core of capitalism ... is the story the entrepreneurs and capital investors tell themselves about the future. How they intend to alter it, what they expect to gain in return, where they will raise the capital to accomplish their vision. Many of their stories turn out to be flawed or mistaken, of course, but the capacity to envision a set of future events and then act to fulfill them is a central source of capitalism's strength and its dominance of society.”

“We preach free enterprise capitalism. We believe in it, we give our lives in war for it, but the closest most of us come to profiting from it are a few miserable shares of stock in a company that doesn't pay large enough dividends to keep a small mouse in cheese. The truth is, most of us are job serfs. At a time when invested capital returns 20 to 30 percent, we have no capital. We only have our wages and salaries, and a debt so high that something like 20c on every dollar we earn is spent to pay off what we owe.”

“The genius of capitalism lies in its ability to make self-interest serve the wider interest. The potential of a big financial return for innovation unleashes a broad set of talented people in pursuit of many different discoveries. This system, driven by self-interest, is responsible for the incredible innovations that have improved so many lives.”

“Smith, as we have said, was not the proponent of any one class. He was a slave to his system. His whole economic philosophy stemmed from his unquestioning faith in the ability of the market to guide the system to its point of highest return. The market — that wonderful social machine — would take care of society's needs if it was left alone. "Consumption is the sole end and purpose of all production," he wrote.”

“Money must serve, not rule! The Pope loves everyone, rich and poor alike, but he is obliged in the name of Christ to remind all that the rich must help, respect and promote the poor. I exhort you to generous solidarity and a return of economics and finance to an ethical approach which favours human beings.”

“If we return to the two faces of individualism - individualism as the spur of energy, initiative, and imagination; and individualism as the limitless struggle of all against all - it can be seen how the two practices emerge from and limit the extend of the disequilibrating impact of the contradiction involved in the geocultural agenda.”

“The total dividend income declared in 1995 by the bottom 9.7 million Canadian tax-filers (47% of all those submitting tax returns) was $310 million. The estimated dividend income received by the Thomson family in 1995 from its 72% ownership share of the Thomson Corporation and its 22% ownership share of the Hudson's Bay Company was $310 million.”

“When the rate of return on capital exceeds the rate of growth of output and income, as it did in the nineteenth century and seems quite likely to do again in the twenty-first, capitalism automatically generates arbitrary and unsustainable inequalities that radically undermine the meritocratic values on which democratic societies are based.”

“[What Hayek] does not see, or will not admit, [is] that a return to "free" competition means for the great mass of people a tyranny probably worse, because more irresponsible, than that of the State. The trouble with competitions is that somebody wins them. Professor Hayek denies that free capitalism necessarily leads to monopoly, but in practice that is where it has led, and since the vast majority of people would far rather have State regimentation than slumps and unemployment, the drift towards collectivism is bound to continue if popular opinion has any say in the matter.”