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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.”

“Politics is noble; it is one of the highest forms of charity, as Paul VI used to say. We sully it when we mix it with business. The relationship between the Church and political power can also be corrupted if common good is not the only converging point.”

“People used to make their own clothes, now they buy clothes. People used to take care of their own kids, now they pay other people do it. And that was because capitalism requires more and more things being turned into money - being turned into profit. But that has reached this absurd limit where there's nothing left to turn into money, and the capitalist system is breaking down.”

“Let's take Adam Smith, the patron-saint of capitalism, what did he think? He thought the main human instinct was sympathy. In fact, take a look at the word "invisible hand." Which, of course, you learned about, or you think you've learned about. Take a look at the actual way in which he used the phrase. There is almost no relation to what is claimed.”

“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.”

“Were it part of our everyday education and comment that the corporation is an instrument for the exercise of power, that it belongs to the process by which we are governed, there would then be debate on how that power is used and how it might be made subordinate to the public will and need. This debate is avoided by propagating the myth that the power does not exist.”

“What distinguishes the historical social system we are calling historical capitalism is that in this historical system capital came to be used (invested) in a very special way. It came to be used with the primary objective or intent of self-expansion. In this system, past accumulations were 'capital' only to the extend they were used to accumulate more of the same.”

“Christian socialism”). This is a difficult concept for modern liberals to grasp because they are used to thinking of the progressives as the people who cleaned up the food supply, pushed through the eight hour workday, and ended child labor. But liberals often forget that the progressives were imperialists, at home and abroad. They were the authors of Prohibition, the Palmer Raids, eugenics, loyalty oaths, and, in its modern incarnation, what many call “state capitalism.”

“For over a century, popular struggles in the democracies have used the nation-state to temper raw capitalism. The power of voters has offset the power of capital. But as national barriers have come down in the name of freer commerce, so has the capacity of governments to manage capitalism in a broad public interest. So the real issue is not "trade" but democratic governance.”