Capital Accumulation Quotes & Sayings

The prerequisite for more economic equality in the world is industrialization. And this is possible only through increased capital investment, increased capital accumulation. — Ludwig Von Mises

The right solution is a progressive annual tax on capital. This will make it possible to avoid an endless inegalitarian spiral while preserving competition and incentives for new instances of primitive accumulation. — Thomas Piketty

Man's nature, he postulated, was to be a "free conscious producer," but so far he had not been able to express himself freely in productive activity. He had been driven to produce by need and greed, by a passion for accumulation which in the modern bourgeois age becomes accumulation of capital. His productive activity had always, therefore, been involuntary; it had been "labour. — Robert C. Tucker

The workforce in Latin America was treated as a vulgar instrument for capital accumulation. — Rafael Correa

In almost every enterprise, government has provided business with opportunities for private gain at public expense. Government nurtures private capital accumulation through a process of subsidies, supports, and deficit spending and an increasingly inequitable tax system. — Michael Parenti

What sets imperialism of the capitalist sort apart from other conceptions of empire is that it is the capitalist logic that typically dominates, though ... there are times in which the territorial logic comes to the fore. But this then poses a crucial question: how can the territorial logics of power, which tend to be awkwardly fixed in space, respond to the open spatial dynamics of endless capital accumulation? And what does endless capital accumulation imply for the territorial logics of power? — David Harvey

The mounting burden of taxation not only undermines individual incentives to increased work and earnings, but in a score of ways discourages capital accumulation and distorts, unbalances, and shrinks production. Total real wealth and income is made smaller than it would otherwise be. On net balance there is more poverty rather than less. — Henry Hazlitt

We must learn to think in terms of an articulated structure that can cope with a multiplicity of small-scale units. If economic thinking cannot grasp this it is useless. If it cannot get beyond its vast abstractions, the national income, the rate of growth, capital/output ratio, input-output analysis, labour mobility, capital accumulation; if it cannot get beyond all this and make contact with the human realities of poverty, frustration, alienation, despair, breakdown, crime, escapism, stress, congestion, ugliness and spiritual death, then let us scrap economics and start afresh. — Ernst F. Schumacher

Remember that accumulated knowledge, like accumulated capital, increases at compound interest: but it differs from the accumulation of capital in this; that the increase of knowledge produces a more rapid rate of progress, whilst the accumulation of capital leads to a lower rate of interest. Capital thus checks its own accumulation: knowledge thus accelerates its own advance. Each generation, therefore, to deserve comparison with its predecessor, is bound to add much more largely to the common stock than that which it immediately succeeds. — Charles Babbage

The accumulation of cultural capital - the acquisition of knowledge - is the key to social mobility. — Michael Gove

The accumulation of capital involves the the expansion of value over time. — David Harvey

Piketty would impose a progressive annual tax on capital. By a static analysis, such a tax might reduce the yield of capital to the rate of GDP expansion and thus eliminate the bias toward top-heavy accumulation by elites. Upholding the secular stagnation theory of permanent growth slowdown, he naturally focuses on depressing the return to capital. Taking money from the rich and giving it to government might seem to address "inequality." But by putting capital into the hands of the least productive users of it - politicians - he would aggravate the very stagnation he warns against. — George Gilder

The idea is the least labor and capital and resources you put together and the more you accumulate the better capitalist you are. So the suggestion I will make to you is that the idea of constant accumulation, which is what America is about, what consumerism, NAFTA are about, means that you always take more than you need and you don't leave the rest. So I suggest that it is possible from an indigenous world view that capitalism is inherently out of order with natural law. — Winona LaDuke

Today you have a situation where now the prescription is: People who don't have enough money to buy food should end up paying for their drinking water. That is going to be the kind of situation in which you will get more child labor. You will get more exploitation of women. You're going to get an absolutely exploitative economy as the very basis of living becomes a source of capital accumulation and corporate growth. In fact, the chief of Coca-Cola in India said: "Our biggest market in India comes from the fact that there is no drinking water left. People will have to buy Coca-Cola. — Vandana Shiva

The concept of unlimited expansion that alone can fulfill the hope for unlimited accumulation of capital, and brings about the aimless accumulation of power, makes the foundation of new political bodies - which up to the era of imperialism always had been the upshot of conquest - well-nigh impossible. — Hannah Arendt

The Republicans did not set out to establish a strong national state or to facilitate the industrial revolution. They believed strongly in the American dream of hard work and upward mobility. They saw no contradiction between capital and labor, between wealth accumulation and equality. Even in the exigencies of war, they directed their legislation to their political base, the farmers and the small-town merchants. Their vision assumed the virtue of rural and small-town America. The majority of Republicans who enacted the legislation grew up on farms. Yet they created an industrial juggernaut that flung railroads across the continent and grew great cities from seaboard to seaboard that attracted thousands from those small towns and farms. These results must be counted among the most sterling examples of unintended consequences in American history.18 — David R. Goldfield

Capitalism will never fall on its own. It will have to be pushed. The accumulation of capital will never cease. It will have to be stopped. The capitalist class will never willingly surrender its power. It will have to be dispossessed. — David Harvey

What the US evidently sought to impose by main force on Iraq was a state apparatus whose fundamental mission was to facilitate conditions for profitable capital accumulation on the part of both domestic and foreign capital. I call this kind of state apparatus a neoliberal state. The freedoms it embodies reflect the interests of private property owners, businesses, multinational corporations, and financial capital. Bremer invited the Iraqis, in short, to ride their horse of freedom straight into the neoliberal corral. — David Harvey

frenzy in the early capitalist states of Europe for gold, for slaves, for products of the soil, to pay the bondholders and stockholders of the expeditions, to finance the monarchical bureaucracies rising in Western Europe, to spur the growth of the new money economy rising out of feudalism, to participate in what Karl Marx would later call "the primitive accumulation of capital." These were the violent beginnings of an intricate system of technology, business, politics, and culture that would dominate the world for the next five centuries. — Howard Zinn

The essence of Keynesianism is its complete failure to conceive the role that saving and capital accumulation play in the improvement of economic conditions. — Ludwig Von Mises

I am deeply convinced that any permanent, regular administrative system whose aim is to provide for the needs of the poor will breed more miseries than it can cure, will deprave the population that it wants to help and comfort, will dry up the sources of savings, will stop the accumulation of capital, will retard the development of trade, and will benumb human industry. — Alexis De Tocqueville

Most economic histories of the "world" not only omit most extra-European production and exchange (even most of that outside West Europe or even northwest Europe); they neglect the participation of the productive and exchange activities of extra-European countries in the European, not to say world, process of accumulation and development. Moreover, they disregard the part that these productive and exchange relations played in the developing world system. — Andre Gunder Frank

It is more than a little ironic that "capital accumulation" once a rather tendentious Marxian view of a supposed capitalist obsession, should have become - of all things - Wall Street's own slogan. — Robert Kuttner

Dostoevsky believed that the gods of rationalism and materialist utilitarianism had joined in conspiracy against all other ethical systems ... The accumulation of capital, or the acquisition of money, are endeavors par excellence which establish a quantifiable goal: hence they are directly amenable to maximization formulae. — John Carroll

As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of the intangible capitals, such as human capital and research and development. — Toshihiko Fukui

Those thoroughly incorporated within the inexorable logic of the market and its demands find that there is little time and space in which to explore emancipatory potentialities outside what is marketed as 'creative' adventure, leisure, and spectacle. Obliged to live as appendages of the market and of capital accumulation rather than as expressive beings, the realm of freedom shrinks before the awful logic and the hollow intensity of market involvements — David Harvey

Barriers to accumulation are perpetually dissolving and re-forming around the issue of so-called natural scarcities and on occasion, as Marx might put it, these barriers can be transformed into absolute contradictions and crises. — David Harvey

This is a steady, ceaseless process, impossible to contain as long as the economy driven by the endless accumulation of capital. The system may prolong its life by slowing down some of the activities which are wearing it out, but death always looms somewhere on the horizon. — Immanuel Wallerstein

The concept that one ought to restrict one's political involvement to one's own state was deeply antithetical to those who were pursuing the accumulation of capital for its own sake. — Immanuel Wallerstein

As the prosperity of the nation and the height of wage rates depend on a continual increase in the capital invested in its plants, mines and farms, it is one of the foremost tasks of good government to remove all obstacles that hinder the accumulation and investment of new capital. — Ludwig Von Mises

Americans mythologize competition and credit it with saving us from socialist bread lines. Actually, capitalism and competition are opposites. Capitalism is premised on the accumulation of capital, but under perfect competition, all profits get competed away. — Peter Thiel

That which constitutes the cause of the economic poverty of our age is what the English call over-production (which means that a mass of things are made which are of no use to anybody, and with which nothing can be done). — Leo Tolstoy

Conservatives insist that government should be " run more like a business." One might wonder how that could be possible, since government does not market goods and services for the purpose of capital accumulation. — Michael Parenti

What makes small business develop into big business is not spending, but saving and capital accumulation. — Ludwig Von Mises

The first and probably most fundamental aspect of this crisis is that we are now close to the commodification of everything. That is, historical capitalism is in crisis precisely because, in pursuing the endless accumulation of capital, it is beginning to approximate that state of being Adam Smith asserted was 'natural' to man but which has never historically existed. The 'propensity [of humanity] to truck, barter, and exchange one thing for another' has entered into domains and zones previously untouched, and the pressure to expand commodification is relatively unchecked. — Immanuel Wallerstein

History does not provide any example of capital accumulation brought about by a government. As far as governments invested in the construction of roads, railroads, and other useful public works, the capital needed was provided by the savings of individual citizens and borrowed by the government. — Ludwig Von Mises

There is an extraordinary irony in government efforts to promote more rational and sustainable forms of behaviour in individuals in economies which are dominated by the imperative to make profit through capital accumulation, and which are inevitably addicted to unsustainable growth. Too much of the practice literature ignores political economic matters mediating practices. As Tim Jackson and others have shown, the idea of a green capitalism, in which growth of output is 'de-coupled' from greenhouse gas emissions, is an impossible dream. I shall therefore argue that practice approaches need to consider political economic matters. — Elizabeth Shove

As Dalla Costa put it, women's unpaid
labor in the home has been the pillar upon which the exploitation of the waged workers, "wage slavery," has been built, and the secret of ies productivity (1972:31). Thus, the power differential between women and men in capitalist societry cannot be attributed to the irrelevance of housework for capitalist accumulation - an irrelevance belied by the strict rules that have governed women's lives - nor CO the survival of timeless cultural schemes. Rather, it should be interpreted as the effect of a social system of production that does not recognize the production and reproduction of the worker as a social-economic activity. and a source of capital accumulation, but mystifies it instead as a natural resource or a personal service, willie profiting from the wageless conclition of the labor involved. — Silvia Federici

A nation cannot prosper if its members are not fully aware of the fact that what alone can improve their condition s is more and better production. And this can only be brought about by increased saving and capital accumulation. — Ludwig Von Mises

Women, who are a majority of the peoples of the earth, are indispensable to the accumulation of the kind of social capital that is conducive to development, peace, justice and civility. — Mahnaz Afkhami

Thus, after all, the actual rates of aggregate saving and spending do not depend on Precaution, Foresight, Calculation, Improvement, Independence, Enterprise, Pride or Avarice. Virtue and vice play no part. It all depends on how far the rate of interest is favourable to investment, after taking account of the marginal efficiency of capital. No, this is an overstatement. If the rate of interest were so governed as to maintain continuous full employment, virtue would resume her sway;
the rate of capital accumulation would depend on the weakness of the propensity to consume. Thus, once again, the tribute that classical economists pay to her is due to their concealed assumption that the rate of interest always is so governed. — John Maynard Keynes

The accumulation of capital and misery go hand in hand, concentrated in space. — David Harvey

If then the prosperity of the commercial classes, will most certainly lead to accumulation of capital, and the encouragement of productive industry; these can by no means be so surely obtained as by a fall in the price of corn. — David Ricardo

But in fact, it is capitalistic accumulation itself that constantly produces, and produces in the direct ratio of its own energy and extent, a relativity redundant population of labourers, i.e., a population of greater extent than suffices for the average needs of the self-expansion of capital, and therefore a surplus-population. — Karl Marx

the striving (and anxious) Christian, deprived of the Catholic's recourse to sacramental justification, could find signs of his being among the elect if he could successfully and unceasingly apply himself to disciplined work and his worldly calling. Material productivity was often the fruit of such effort, which, compounded by the Puritan demand for ascetic renunciation of selfish pleasure and frivolous spending, readily lent itself to the accumulation of capital. Whereas traditionally the pursuit of commercial success was perceived as directly threatening to the religious life, now the two were recognized as mutually beneficial. — Richard Tarnas

There are respectable individuals, who from a just aversion to an accumulation of Public debt, are unwilling to concede to it any kind of utility, who can discern no good to alleviate the ill with which they suppose it pregnant; who cannot be persuaded that it ought in any sense to be viewed as an increase of capital lest it should be inferred, that the more debt the more capital, the greater the burthens the greater the blessings of the community. — Alexander Hamilton

Neoliberalization has not been very effective in revitalizing global capital accumulation, but it has succeeded remarkably well in restoring, or in some instances (as in Russia and China) creating, the power of an economic elite. The theoretical utopianism of neoliberal argument has, I conclude, primarily worked as a system of justification and legitimation for whatever needed to be done to achieve this goal. — David Harvey