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Capitalism Quotes

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Capitalism Quotes

“If the central contest of the twentieth century has pitted capitalism against socialism, then F. A. Hayek has been its central figure. He helped us to understand why capitalism won by a knockout. It was Hayek who elaborated the basic argument demonstrating that central planning was nothing else but an impoverishing fantasy.”

“It was only in the late nineteenth century and then the twentieth century, with the maturation of consumer capitalism, that a shift was made toward the cultivation of unbounded desire. We must appreciate this to realize that late modern consumption, consumption as we now know it, is not fundamentally about materialism or the consumption of physical goods. Affluence and consumer-oriented capitalism have moved us well beyond the undeniable efficiencies and benefits of refrigeration and indoor plumbing.”

“Predatory capitalism created a complex industrial system and an advanced technology; it permitted a considerable extension of democratic practice and fostered certain liberal values, but within limits that are now being pressed and must be overcome. It is not a fit system for the mid-twentieth century.”

“And when you look at the twentieth-century experiment with collectivism-that Ayn Rand, more than anybody else, did such a good job of articulating the pitfalls of statism and collectivism-you can't find another thinker or writer who did a better job of describing and laying out the moral case for capitalism than Ayn Rand.”

“The degeneration of the revolution in Russia does not pass from the revolution for communism to the revolution for a developed kind of capitalism, but to a pure capitalist revo­lution. It runs in parallel with world-wide capitalist domination which, by successive steps, eliminates old feudal and Asiatic forms in various zones. While the historical situation in the seventeenth, eighteenth and nineteenth centuries caused the capitalist revolution to take liberal forms, in the twentieth century it must have totalitarian and bureaucratic ones.”