Capitalism Is An Economic System Quotes & Sayings

A third group of inflationists do not deny that inflation involves serious disadvantages. Nevertheless, they think that there are higher and more important aims of economic policy than a sound monetary system. They hold that although inflation may be a great evil, yet it is not the greatest evil, and that the State might under certain circumstances find itself in a position where it would do well to oppose greater evils with the lesser evil of inflation. — Ludwig Von Mises

The nature of the economic system should be a matter for public choice, and free market capitalism should not be accepted without any discussion of the rich variety of alternatives ... Unlike civil laws, economic laws are imposed on people with all the authority of immutable laws of nature. But the economy is created by people, supported by government intervention, regulation, statute and subsidy, and implemented in such a way that it gives substantial wealth and power to a privileged few, while the majority face a life of relentless work, stress and periodic financial insecurity. — Tony Benn

Economic systems come, and economic systems go. No economic system lasts forever. Capitalism is not likely to last forever, either. — Jim Stanford

Capitalism, gaudy and greedy, has been inherent in western aesthetics from ancient Egypt on. It is the mysticism and glamour of things , which take on a personality of their own. As an economic system, it is in the Darwinian line of Sade, not Rousseau. — Camille Paglia

If capitalism is to remain a healthy, vibrant economic system, corporations must participate in taking care of the society and the environment in which they live. — Simon Mainwaring

Capitalism, the ogre of those protesting Wall Street, has suffered a public relations crisis in the wake of the global economic collapse. But any remedy to the systemic corruption that led to the collapse should not displace recognition that capitalism creates wealth. Capitalism, and no other economic system, has raised millions from poverty around the world. — Kathleen Parker

The people's community must not be a mere phrase, but a revolutionary achievement following from the radical carrying out of the basic life needs of the working class. A ruthless battle against corruption! A war against exploitation, freedom for the workers! The elimination of all economic-capitalist influences on national policy ... Maintaining a rotten economic system has nothing to do with nationalism, which is an affirmation of the Fatherland. I can love Germany and hate capitalism. Not only can I, I must. — Joseph Goebbels

There is a lovely feature of the American psyche which rejects the notion that there are victims. In America, attitude is a magical elixir that cures everything. People are supposed to believe that they create their realities, and are solely responsible for every aspect of their lives. Everything is because of a choice you made somewhere. Somehow, you were supposed to not only be equipped to make the right choice at all times, despite your circumstances, but to know exactly what the outcome of every choice you made would be. This is all very convenient for the people at the top of our economic system with all the money and the power. Keeps the rest of us trying. — Carl-John X. Veraja

We begin with the proposition that capitalism is not chiefly an incentive system but an information system. We continue with the recognition, explained by the most powerful science of the epoch, that information is best defined as surprised-what we cannot predict rather than what we can. The key to economic growth is not acquisition of things by the pursuit of monetary rewards but the expansion of wealth through learning and discovery. — George Gilder

We do not believe that capitalism, or any economic system, is the cause of female oppression, nor do we believe that female oppression will disappear as a result of purely economic revolution. — Anne Koedt

Capitalism is, fundamentally, an economic system that promotes inequality. — Annalee Newitz

The slave states of Western world are an outgrowth of monopolistic capitalism - an economic system which is opposed to the wide distribution of private property in many hands. Instead, monopolistic capitalism concentrates productive wealth among a few men, allowing the rest to become a vast proletariat. — Fulton J. Sheen

I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable. — John Maynard Keynes

Keynes declared capitalism the best system ever devised to achieve a civilized economic society. But he recognized in it two major faults - its failure to provide for full employment and its arbitrary and inequitable distribution of wealth and incomes. — Robert B. Reich

In the course of history periods of capitalism and socialism alternate with one another; capitalism is the unnatural, socialism the natural economic system ... The National Socialists and the Red Front have the same aspirations. The Jews falsified the Revolution in the form of Marxism and that failed to bring fulfilment. — Heinrich Himmler

Christianity would not have lasted 2,000 years if the majority of bishops and priests failed to believe in Christ. American democracy would not have lasted almost 250 years if the majority of presidents and congressmen failed to believe in human rights. The modern economic system would not have lasted a single day if the majority of investors and bankers failed to believe in capitalism. — Yuval Noah Harari

If the world were full of the self-seeking individuals found in economics textbooks, it would grind to a halt because we would be spending most of our time cheating, trying to catch the cheaters, and punishing the caught. The world works as it does only because people are not the totally self seeking agents that free-market economics believes them to be. We need to design an economic system that, while acknowledging that people are often selfish, exploits other human motives to the full and gets the best out of people. The likelihood is that, if we assume the worst about people, we will get the worst out of them. — Ha-Joon Chang

Capitalism is the only economic system compatible with free individuals — Peter McWilliams

The alarm must be sounded because it is the economic and social system of capitalism and imperialism that prevents the urgently needed full mobilization of the potential economic surplus and the attainment of rates of economic advancement that can be secured with its help. — Paul A. Baran

Capitalism is not an economic system, but a world-outlook, or rather, a part of a whole world-outlook. — Francis Parker Yockey

Interventionism cannot be considered as an economic system destined to stay. It is a method for the transformation of capitalism into socialism by a series of successive steps. — Ludwig Von Mises

To paraphrase Winston Churchill, capitalism is the worst economic system except for all the other forms. — Ha-Joon Chang

The billionaire investor George Soros has coined a term to describe this perspective: "free market fundamentalism." It is the belief not simply that free markets are the best way to run an economic system, but that free markets are the only way that will not ultimately destroy our other freedoms. "The doctrine of laissez-faire capitalism holds that the common good is best served by the uninhibited pursuit of self-interest,"36 Soros wrote. — Naomi Oreskes

Socialism is nothing more nor less than the social, political and ideological system which breaks the fetters upon economic growth created under capitalism and opens the way to a new period of economic and social expansion on a much larger scale. — Earl Browder

Both capitalism and Marxism promised to point out the path for the creation of just structures, and they declared that these, once established, would function by themselves; they declared that not only would they have no need of any prior individual morality, but that they would promote a communal morality. And this ideological promise has been proved false. The facts have clearly demonstrated it. The Marxist system, where it found its way into government, not only left a sad heritage of economic and ecological destruction, but also a painful oppression of souls. And we can also see the same thing happening in the West, where the distance between rich and poor is growing constantly, and giving rise to a worrying degradation of personal dignity through drugs, alcohol and deceptive illusions of happiness. — Pope Benedict XVI

But while capitalism may be a convenient scapegoat, it did not cause any of these problems. Indeed, whatever one wishes to call the unruly mixture of freedom and government controls that made up our economic and political system during the last three decades, one cannot call it capitalism. — Yaron Brook

This was 1990 the year that communism died in Europe and it seemed strange to me that in all the words that were written about the fall of the iron curtain, nobody anywhere lamented that it was the end of a noble experiment. I know that communism never worked and I would have disliked living under it myself but none the less it seems that there was a kind of sadness in the thought that the only economic system that appeared to work was one based on self interest and greed. — Bill Bryson

capitalism itself is a system and that as the environment that hosts capitalism changes - in particular, as the better part of global economic growth begins to occur outside the mature economies of the West - the capitalist system will evolve. — Christopher Meyer

The future of private enterprise capitalism is also the future of a free society. There is no possibility of having a politically free society unless the major part of its economic resources are operated under a capitalistic private enterprise system. — Milton Friedman

Capitalism has become systemically risky when a single financial algorithm like the one that David X. Li created brought the entire global economic system close to collapse in 2008. — Said Elias Dawlabani

In pure Capitalism (never fully achieved even in America), the government's only role is to protect individual rights, property, and transactions from force or fraud by others via the police and/or courts and to protect the nation and its citizens against foreign aggression via the military. Period. As imperative as it is to understand morality, immorality, and amorality it is vital to understand that capitalism is the only social-political-economic-moral system that protects the individual from all force and fraud, including force or fraud from the government itself. — Alexandra York

Every non-Marxist economic theory that treats human and non-human productive inputs as interchangeable assumes that the dehumanisation of human labour is complete. But if it could ever be completed, the result would be the end of capitalism as a system capable of creating and distributing value. — Yanis Varoufakis

Resentment is at work when one so hates somebody for his more favorable circumstances that one is prepared to bear heavy losses if only the hated one might also come to harm. Many of those who attack capitalism know very well that their situation under any other economic system will be less favorable. — Ludwig Von Mises

Capitalism is a system in which the central institutions of society are, in principle, under autocratic control. Thus, a corporation or an industry is, if we were to think of it in political terms, fascist, that is, it has tight control at the top and strict obedience has to be established at every level ... Just as I'm opposed to political fascism, I am opposed to economic fascism. I think that until the major institutions of society are under the popular control of participants and communities, it's pointless to talk about democracy. — Noam Chomsky

Capitalism designates an economic system significantly characterized by the predominance of " capital ." Capitalism and double entry bookkeeping are absolutely indissociable; their relationship to each other is that of form to content. — Werner Sombart

There are a few people, but a diminishing number, who still believe that Marxism, as an economic system, off era a coherent alternative to capitalism, and socialism has, indeed, triumphed in one country. — Herbert Read

In neo-classical economic theory, it is claimed without evidence that people are basically self-seeking, that they want above all the satisfaction of their material desires: what economists call "maximising utility". The ultimate objective of mankind is economic growth, and that is maximized only through raw, and lightly regulated, competition. If the rewards of this system are spread unevenly, that is a necessary price. Others on the planet are to be regarded as either customers, competitors or factors of production. Effects upon the planet itself are mere "externalities" to the model, with no reckoning of the cost - at least for now. Nowhere in this analysis appears factors such as human cooperation, love, trust, compassion or hatred, curiosity or beauty. Nowhere appears the concept of meaning. What cannot be measured is ignored. But the trouble is that once our basic needs for shelter and food have been met, these factors may be the most important of all. — Carne Ross

Bring on those tired, labor-plagued, competition-weary companies and ESOP will breathe new life into them. They will find ESOP better than Geritol. It will revitalize what is wrong with capitalism. It will increase productivity. It will improve labor relations. It will promote economic justice. It will save the economic system. It will make our form of government and our concept of freedom prevail over those who don't agree with us. — Russell B. Long

In theory, capitalism is an economic system that allows people to freely trade goods and services in a competitive free market. But since the outright ownership of land creates an entry monopoly, it restricts the operation of the free market... Consequently, our current implementation of capitalism is deeply responsible for the exploitation of nature and the decline of social well-being. — Martin Adams

What imperialists actually wanted was expansion of political power without the foundation of the body politic. Imperialist expansion had been touched off by a curious kind of economic crisis, the overproduction of capital and the emergence of "superfluous" money, the result of oversaving, which could no longer find productive investment within national borders. For the first time, investment of power did not pave the way for investment of money, since uncontrollable investments in distant countries threatened to transform large strata of society into gamblers, to change the whole capitalist economy from a system of production to a system of financial speculation, and to replace the profits of production with profits in commissions. The decade immediately before the imperialist era, the seventies of the last century, witnessed an unparalleled increase in swindles, financial scandals, and gambling in the stock market. — Hannah Arendt

By definition, design, and practice, capitalism is a system that concentrates economic power in the hands of the few to the exclusion of the many. — Anita Roddick

But real adults - people who are masters of their own lives - are in fact nowhere to be found. And a youthful transformation of what exists is in no way characteristic of those who are now young; it is present solely in the economic system, in the dynamism of capitalism. It is things that rule and that are young, vying with each other and constantly replacing each other. — Guy Debord

A thorough investigation would prove that nine crimes out of ten could be traced, directly or indirectly, to our economic and social iniquities, to our system of remorseless exploitation and robbery. — Emma Goldman

The truth is that capitalism has not only multiplied population figures, but at the same time, improved the people's standard of living in an unprecedented way. Neither economic thinking nor historical experience suggests that any other social system could be as beneficial to the masses as capitalism. The results speak for themselves. The market economy needs no apologists and propagandists. It can apply to itself the words of Sir Christopher Wren's epitaph in St. Paul's: Si monumentum requires, circumspice. — Ludwig Von Mises

Here's what I don't think works: An economic system that was founded in the 16th century and another that was founded in the 19th century. I'm tired of this discussion of capitalism and socialism; we live in the 21st century; we need an economic system that has democracy as its underpinnings and an ethical code. — Michael Moore

Normally, when you challenge the conventional wisdom - that the current economic and political system is the only possible one - the first reaction you are likely to get is a demand for a detailed architectural blueprint of how an alternative system would work, down to the nature of its financial instruments, energy supplies, and policies of sewer maintenance. Next, you are likely to be asked for a detailed program of how this system will be brought into existence. Historically, this is ridiculous. When has social change ever happened according to someone's blueprint? It's not as if a small circle of visionaries in Renaissance Florence conceived of something they called "capitalism," figured out the details of how the stock exchange and factories would someday work, and then put in place a program to bring their visions into reality. In fact, the idea is so absurd we might well ask ourselves how it ever occurred to us to imagine this is how change happens to begin. — David Graeber

Capitalism does not permit an even flow of economic resources. With this system, a small privileged few are rich beyond conscience, and almost all others are doomed to be poor at some level. That's the way the system works. And since we know that the system will not change the rules, we are going to have to change the system. — Martin Luther King Jr.

The power in capitalism must not be mindless. Unless it is combined with knowledge, mere economic power or money is fruitless. Enterprise involves memory of the past and anticipation of the future, and it is creative. It is not a simple incentive system of rewards and punishments, of carrots and sticks. It is an information system, and it is governed less by economic theory as we know it than by information theory. — George Gilder

Deep caring about each other's fate does seem to be on the decline, but I do not believe that New Age narcissism is much to blame. The external causes of our moral indifference are a fragmented mass society that leaves us isolated and afraid, an economic system that puts the rights of capital before the rights of people, and a political process that makes citizens into ciphers.

These are the forces that allow, even encourage, unbridled competition, social irresponsibility, and the survival of the financially fittest. The executives who brought down the major corporations by taking indecent sums off the top while wage earners of modest means lost their retirement accounts were clearly more influenced by capitalist amorality than by some New Age guru. — Parker J. Palmer

If capitalism worked as the socialists think an economic system ought to work, and provided a constant equality of living conditions for all, regardless of whether a man was able or not, resourceful or not, diligent or not, thrifty or not, if capitalism put no premiums on resourcefulness and effort and not penalty on idleness or vice, it would produce only an equality of destitution. — Milton Friedman

Reification, the essential tendency of capitalism, can never be wholly realized. If it were, if the system were actually able to change individuals into things moved only by economic "forces," it would collapse not in the long run, but immediately. The struggle of people against reification is, just as much as the tendency towards reification, the condition for the functioning of capitalism. Capitalism can function only by continually drawing upon the genuinely human activity of those subject to it, while at the same time trying to level and dehumanize them as much as possible. — Cornelius Castoriadis

Capitalism is a system that works extremely well for someone who is highly motivated and very energetic, but it is not a great system for someone who is not interested in working hard or for someone who feels no need to contribute to the economic well-being of their community. — Ben Carson

How skillful to tax the middle class to pay for the relief of the poor, building resentment on top of humiliation! How adroit to bus poor black youngsters into poor white neighborhoods, in a violent exchange of impoverished schools, while the schools of the rich remain untouched and the wealth of the nation, doled out carefully where children need free milk, is drained for billion-dollar aircraft carriers. How ingenious to meet the demands of blacks and women for equality by giving them small special benefits, and setting them in competition with everyone else for jobs made scares by an irrational, wasteful system. How wise to turn the fear and anger of the majority toward a class of criminals bred - by economic inequity - faster than they can be put away, deflecting attention from the huge thefts of national resources carried out within the law by men in executive offices. — Howard Zinn

From the viewpoint of economic democracy, the capitalism-socialism debate was a debate between private and state capitalism (i.e., the private or public employment system), and the debate was as misframed as would be a debate between the private or public ownership of slaves. — David P. Ellerman

And one day we must ask the question, "Why are there forty million poor people in America?" And when you begin to ask that question, you are raising questions about the economic system, about a broader distribution of wealth. When you ask that question, you begin to question the capitalistic economy. — Martin Luther King Jr.

Capitalism played a decisive role not only in the rise of modern science, but also in the emergence of European imperialism. And it was European imperialism that created the capitalist credit system in the first place. Of course, credit was not invented in modern Europe. It existed in almost all agricultural societies, and in the early modern period the emergence of European capitalism was closely linked to economic developments in Asia. Remember, too, that until the late eighteenth century, Asia was the world's economic powerhouse, meaning that Europeans had far less capital at their disposal than the Chinese, Muslims or Indians. — Yuval Noah Harari

Capitalism is an organized system to guarantee that greed becomes the primary force of our economic system and allows the few at the top to get very wealthy and has the rest of us riding around thinking we can be that way, too - if we just work hard enough, sell enough Tupperware and Amway products, we can get a pink Cadillac. — Michael Moore

A government always finds itself obliged to resort to inflationary measures when it cannot negotiate loans and dare not levy taxes, because it has reason to fear that it will forfeit approval of the policy it is following if it reveals too soon the financial and general economic consequences of that policy. Thus inflation becomes the most important psychological resource of any economic policy whose consequences have to be concealed; and so in this sense it can be called an instrument of unpopular, i.e. of anti-democratic, policy, since by misleading public opinion it makes possible the continued existence of a system of government that would have no hope of the consent of the people if the circumstances were clearly laid before them. That is the political function of inflation. It explains why inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism. — Ludwig Von Mises

It has been a masterful fight-back by the big banks. We the paying public can't do anything much except admit defeat and settle back for the next set of bills. In the meantime, perhaps, we should try and think of a name for the new economic system, which certainly isn't capitalism ... The most accurate term would probably be "bankocracy". — John Lanchester

Inevitably, people tell me that poor folks are lazy or unintelligent, that they are somehow deserving of their poverty. However, if you begin to look at the sociological literature on poverty, a more complex picture emerges. Poverty and unemployment are part and parcel of our economic order. Without them, capitalism would cease to function effectively, and in order to continue to function, the system itself must produce poverty and an army of underemployed or unemployed people. — Bob Torres

War is the extreme edge of capitalism: an economic system so designed that it is always tipped in balance so that the mouth of the few is open
at the exact place where the food will fall from the lips of the hungry onto the tongues of the already satisfied. — Patricia J. McLean

We are supposed to believe [capitalist ideology] was the champion of freedom and prosperity in the epic struggle called the Cold War. If there was such a champion, might it not have been freedom itself, as realized in the institutional forms of democracy? This is not how the story has been told. We are t believe it was an economic system, capitalism, that arrayed its forces against its opposite, communism, and rescued all we hold dear. Yet in the new era ... [capitalism] has shown itself very ready to devour what we hold dear, if the list can be taken to include culture, education, the environment, and the sciences, as well as the peace and well-being of our fellow citizens. — Marilynne Robinson

The failure to examine heterosexuality as an institution is like failing to admit that the economic system called capitalism or the caste system of racism is maintained by a variety of forces, including both physical violence and false consciousness. — Adrienne Rich

Let's begin with capitalism, a word that has gone largely out of fashion. The approved reference now is to the market system. This shift minimizes-indeed, deletes-the role of wealth in the economic and social system. And it sheds the adverse connotation going back to Marx. Instead of the owners of capital or their attendants in control, we have the admirably impersonal role of market forces. It would be hard to think of a change in terminology more in the interest of those to whom money accords power. They have now a functional anonymity. — John Kenneth Galbraith

I believed - and believe - that capitalism works best for a freedom-loving society, that it brings more prosperity to more people than any other social-economic system, but that somehow we have to take care of people. — Katharine Graham

My analysis, especially of the computer revolution, always comes back to capitalism. It's that economic system that has led to Western civilization's willingness to enslave ourselves to machines - because some people benefit enormously from it, while the costs are borne by other people and the planet. — Kirkpatrick Sale

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. — John Dos Passos

Laissez-faire capitalism, or anarchocapitalism, is simply the economic form of the libertarian ethic. Laissez-faire capitalism encompasses the notion that men should exchange goods and services, without regulation, solely on the basis of value for value. It recognizes charity and communal enterprises as voluntary versions of this same ethic. Such a system would be straight barter, except for the widely felt need for a division of labor in which men, voluntarily, accept value tokens such as cash and credit. Economically, this system is anarchy, and proudly so. — Karl Hess

There is tons of work to be done, and lots of people who would like to do the work. It's just that the economic system is such a grotesque catastrophe that it can't even put together idle hands and needed work, which would be satisfying to the people and which would be beneficial to all of us. That's just the mark of a failed system. The most dramatic mark of it. — Noam Chomsky

The collective impact of these failures has been a complete erosion of ethical standards, ultimately leading to a novel system we still call Capitalism, but which is tantamount to economic slavery. In this system - our system - the slaves are unaware both of their status and of their masters, who exist in a world apart where the intangible shackles are carefully hidden amongst reams of unreachable legalese. — John Doe

For once the commodities have been sold that were already on the market when their price was authoritatively fixed at a level below that demanded by the situation of the market, then the emptied store-rooms are not filled again. Charging more than a certain price is prohibited, but producing and selling has not been made compulsory. There are no longer any sellers. The market ceases to function. But this means that economic organization based on division of labour becomes impossible. The level of money-prices cannot be fixed without overthrowing the system of social division of labour. — Ludwig Von Mises

Modern capitalism is just as subversive as Marxism. The materialistic view of life on which both systems are based is identical. As long as we only talk about economic classes, profit, salaries, and production, and as long as we believe that real human progress is determined by a particular system of distribution of wealth and goods, then we are not even close to what is essential. — Julius Evola

The rich run a global system that allows them to accumulate capital and pay the lowest possible price for labour. The freedom that results applies only to them. The many simply have to work harder, in conditions that grow ever more insecure, to enrich the few. Democratic politics, which purports to enrich the many, is actually in the pocket of those bankers, media barons and other moguls who run and own everything. — Charles Moore

Capitalism has been one of the most dynamic forces in human history, transforming one society after another, and today it has become established as an international system determining the economic fate of most of mankind. — Peter L. Berger