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Capitalism Quotes

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Capitalism Quotes

“Adam Smith's was a real universalism in intent. Laissez Faire was intended to establish a world community as well as a natural harmony of interests within each nation... But the "children of darkness" were able to make good use of his creed. A dogma which was intended to guarantee the economic freedom of the individual became the "ideology" of vast corporate structures of a later period of capitalism, used by them, and still used, to prevent a proper political control of their power.”

“The fascinating thing to a dispassionate observer about the structure of life in the Soviet Union is that in their efforts to produce an unknown that we may let its ideologists call Socialism the Communist dictators have produced a brutal approximation of monopoly Capitalism, a system that has all the disadvantages of our own, with none of the palliatives which come to us from surviving competition and from the essential division of economic and political power which has so far made it possible for the humane traditions of the Western world to continue.”

“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.”

“So much were employers of wage-labor unenthusiastic about proletarianization that, in addition to fostering the gender age division of labor, they also encouraged, in their employment patters and through their influence in the political arena, recognition of defined ethnic groups, seeking to link them to specific allocated roles in the labor-force, with different levels of real remuneration for their work. Ethnicity created a cultural crust which consolidated the patterns of semi-proletarian household structures.”

“The basic question that the 'new science' raises for our balance sheet is the issue of what scientific questions have not been asked for 500 years, which scientific risks have not been pursued. It raises the question of who has decided what scientific risks were worth taking, and what have been the consequences in terms of the power structures of the world.”