Capitalism Quotes - Page 16

...there's nothing more depressing than bad capitalism.

In a capitalist society there are always inequalities of class and wealth. People who inherit money and property will always see themselves as being superior to those who have to work for it.

Funny thing how it is. If a man owns a little property, that property is him, it's part of him, and it's like him. If he owns property only so he can walk on it and handle it and be sad when it isn't doing well, and feel fine when the rain falls on it, that property is him, and some way he's bigger because he owns it. Even if he isn't successful he's big with his property. That is so.''But let a man get property he doesn't see, or can't take time to get his fingers in, or can't be there to walk on it - why, then the property is the man. He can't do what he wants, he can't think what he wants. The property is the man, stronger than he is. And he is small, not big. Only his possessions are big - and he's the servant of his property. That is so, too.

Even the 'right to live'...extends no further than the right to protection against murder. Charity certainly will, morality possibly may, and public utility perhaps ought to add to this protection supererogatory provision for continuance of life; but it is questionable whether strict justice demands it.

They understood what had really held the market together before. Violence. After all, what good was a debt if the creditor couldn't compel it to be paid?

Free markets and capitalism are predicated upon the definition of greed as altruistic in economics".~R. Alan Woods [2012]

But one afternoon Lila said softly that there was nothing that could eliminate the conflict between the rich and the poor. "Why?""Those who are on the bottom always want to be on top, those who are on top want to stay on top, and one way or another they always reach the point where they're kicking and spitting at each other.""That's exactly why problems should be resolved before violence breaks out.""And how? Putting everyone on top, putting everyone on the bottom?""Finding a point of equilibrium between the classes.""A point where? Those from the bottom meet those from the top in the middle?""Let's say yes.""And those on top will be willing to go down? And those on the bottom will give up on going any higher?""If people work to solve all problems well, yes. You're not convinced?""No. The classes aren't playing cards, they're fighting, and it's a fight to the death.

You build on cost and you borrow on value.

The aim was to regulate the value of money by increasing or diminishing the quantity of it. The effects of these measures appeared to provide an inductive proof of the correctness of this superficial version of the Quantity Theory, and incidentally concealed the weaknesses of its logic.

History shows that where ethics and economics come in conflict, victory is always with economics. Vested interests have never been known to have willingly divested themselves unless there was sufficient force to compel them.

Why do you accept being treated like an inmate?

Spectacle is the sun that never sets over the empire of modern passivity

...many of us know deep down, whether we choose to admit it or not, a number of simple truths: the global capitalist economy is incompatible with life. As numerous environmentalist authors... have noted, the global economy effectively creates infinite demand and no natural community can support infinite demand, especially when nothing beneficial is given back. A global economy is extractive, it gives nothing back, but follows the ecocidal pattern of a genocidal machine converting raw materials into power at the expense of living things and living systems.

The use of market values and technology as a social barometer has devalued the worth of individuals, rendered irrelevant the quality of their lives, and stunted their creativity.

If Adam and Eve were not hunter-gatherers, then they were certainly gatherers. But, then, consumer desire, or self-embitterment, or the 'itch,' as Schopenhauer called it, appeared in the shape of the serpent. This capitalistic monster awakens in Adam and Eve the possibility that things could be better. Instantly, they are cast out of the garden and condemned to a life of toil, drudgery, and pain. Wants supplanted needs, and things have been going downhill ever since.

If the objective exchange-value of money must always be linked with a pre-existing market exchange-ratio between money and other economic goods (since otherwise individuals would not be in a position to estimate the value of the money), it follows that an object cannot be used as money unless, at the moment when its use as money begins, it already possesses an objective exchange-value based on some other use.

After an eight-hour day workers require three overtime hours to produce two regular hours of results.

It is precisely democracy which is destroying the American political structure, American law, and the American economy.

My Oneness will stop the machine that overtakes people's minds. Do we really need new clothes, or new cars, or new TVs? Should we really ingest food made from chemicals not of this earth? Should we really give our money to people who don't need it but want it to fill the evil greed inside of their body? No, we don't, but people need me to show them how to be free." Jimmy, "The One

What is this so-called 'employment flexibility'? It simply means that employers, in their quest to reduce costs whilst trying to meet the demands of globalisation, are disregarding the traditional job boundaries – often to the detriment of the unskilled, non-standard worker. Employers use non-standard workers to avoid restrictive labour laws and collective bargaining restraints. In addition, the practice provides them with more flexibility.

People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.

If the possessor of a units of money receives h additional units, then it is not at all true to say that he will value the total stock a + h exactly as highly as he had previously valued the stock a alone. Because he now has disposal over a larger stock, he will now value each unit less than he did before; but how much less will depend upon a whole series of individual circumstances, upon subjective valuations that will be different for each individual.

The tourists had money and we needed it; they only asked in return to be lied to and deceived and told that single most important thing, that they were safe, that their sense of security—national, individual, spiritual—wasn’t a bad joke being played on them by a bored and capricious destiny. To be told that there was no connection between then and now, that they didn't need to wear a black armband or have a bad conscience about their power and their wealth and everybody else’s lack of it; to feel rotten that no-one could or would explain why the wealth of a few seemed so curiously dependent on the misery of the many. We kindly pretended that it was about buying and selling chairs, about them asking questions about price and heritage, and us replying in like manner.But it wasn’t about price and heritage, it wasn’t about that at all.The tourists had insistent, unspoken questions and we just had to answer as best we could, with forged furniture. They were really asking, 'Are we safe?' and we were really replying, 'No, but a barricade of useless goods may help block the view.' And because hubris is not just an ancient Greek word but a human sense so deep-seated we might better regard it as an unerring instinct, they were also wanting to know, 'If it is our fault, then will we suffer?' and we were really replying, 'Yes, and slowly, but a fake chair may make us both feel better about it.

The test of an economic system lies in the choices it offers, the alternatives that are open to the people living under it. When choices are limited by coercion of one sort or another, the system must fall short of meeting the test in greater or less degree. The virtue of a free system – i.e., competitive capitalism – is that it allows energy to flow uncoerced into a thousand-and-one different forms, expanding goods, services, and jobs in a myriad, unpredictable ways. Every day, under such a system, a consumer’s plebiscite (the phrase is Ludwig von Mises‘) is held, the vote being counted in whatever money unit is the handiest. With his votes the consumer directs production, forcing or luring energy, brains and capital to obey his will.

The bourgeois during its rule of scarce one hundred years, has created more massive and more colossal productive forces than have all preceding generations together.

A company is judged by the president it keeps.

I think commercialism helps Christmas and I think that the more capitalism we can inject into the Christmas holiday the more spiritual I feel about it

Oh, and 13.1 million American people had their homes foreclosed. Because their debt, it turns out, was real; it was only the debt within the financial sector that was imaginary. It was only the people who generated the crisis who got three magical wishes from an economic genie. There was no abracadabra for ordinary people; they just got abraca-fucked.

DEATH is big business.Thank god for capitalism.

Indentured servitude is banned, but what about students seeking to sell shares of their future earnings in exchange for money up front to pay for their college tuitions?

The language of intrinsic human rights represented a significant advance beyond the previous language of world religions in terms of its universal applicability and its thiswordliness.

Twenty generations ago - around the year 1390 - you had 1 048 576 ancestors. In the 21st generation of your family that number will double again.

These people live in many lands, speak different languages, practice different religions, may even hate one another- yet none of these differences prevented them from cooperating to produce a pencil. How did it happen? Adam Smith gave us the answer two hundred years ago.

The main substantive achievement of neoliberalization, however, has been to redistribute, rather than to generate, wealth and income. …[T]his was achieved under the rubric of ‘accumulation by dispossession’. By this I mean the continuation and proliferation of accumulation practices which Marx had treated of as ‘primitive’ or ‘original’ during the rise of capitalism. These include the commodification and privatization of land and the forceful expulsion of peasant populations (compare the cases, described above, of Mexico and of China, where 70 million peasants are thought to have been displaced in recent times); conversion of various forms of property rights (common, collective, state, etc.) into exclusive private property rights (most spectacularly represented by China); suppression of rights to the commons; commodification of labour power and the suppression of alternative (indigenous) forms of production and consumption; colonial, neocolonial, and imperial processes of appropriation of assets (including natural resources); monetization of exchange and taxation, particularly of land; the slave trade (which continues particularly in the sex industry); and usury, the national debt and, most devastating of all, the use of the credit system as a radical means of accumulation by dispossession.

There is not the slightest analogy between playing games and the conduct of business within a market society. The card player wins money by outsmarting his antagonist. The businessman makes money by supplying customers with goods they want to acquire.

When you consider socialism, do not fool yourself about its nature. Remember that there is no such dichotomy as “human rights” versus “property rights.” No human rights can exist without property rights.

If all the exchange-ratios of the past were erased from human memory, the process of market-price-determination might certainly become more difficult, because everybody would have to construct a new scale of valuations for himself; but it would not become impossible. In fact, people the whole world over are engaged daily and hourly in the operation from which all prices result: the decision as to the relative significance enjoyed by specific quantities of goods as conditions for the satisfaction of wants.

All of this might seem diabolical, but the saloon-keeper was in no wise to blame for it. He was in the same plight as the manufacturer who has to adulterate and misrepresent his product. If he does not, some one else will.

We have already examined one of the objections that have been brought against the Quantity Theory; the objection that it only holds good ceteris paribus. No more tenable as an objection against the determinateness of our conclusions is reference to the possibility that an additional quantity of money may be hoarded. This argument has played a prominent role in the history of monetary theory; it was one of the sharpest weapons in the armoury of the opponents of the Quantity Theory. Among the arguments of the opponents of the Currency Theory it immediately follows the proposition relating to the elasticity of cash-economizing methods of payment, to which it also bears a close relation as far as its content is concerned.

Now, quite apart from the fact that, from the point of view of the Earther, socialism suffers the devastating liability of only exhibiting internal contradictions when you are trying to use it as an adjunct to your own stupidity (unlike capitalism, which again, from the point of view of the Earther, happily has them built in from the start), it is the case that because Free Enterprise got there first and set up the house rules, it will always stay at least one kick ahead of its rivals.

Business is a combination of war and sport.

First of all, we've never had capitalism, so it can't end. We have some variety of state capitalism. If you fly on an airplane, you're basically flying in a modified bomber. If you buy drugs, the basic research was done under public funding and support. The high-tech system is permeated with internal controls, government subsidies. And if you look at what are supposed to be the growing alternatives, China is another form of state capitalism...The question is whether these systems, whatever they are, can be adapted to current problems and circumstances. For example, there's no justification, economic or other, for the enormous and growing role of financial institutions since the 1970s. Even some of the most respected economists pint out that they're just a drag on the economy. Martin Wolf of the Financial Times says straight out that the financial institutions shouldn't be allowed to have anything like the power they do. There's plenty of leeway for modification and change. Worker-owned industries can take over. There's interesting work on this topic by Gar Alperovitz, who has been right at the center of a lot of organizing around worker control. It's not a revolution, but it's the germ of another type of capitalism, capitalism in the sense that markets and profit are involved.

Only the unlimited accumulation of power could bring about the unlimited accumulation of capital.

This market way of life promotes addictions to stimulation and obsessions with comfort and convenience.

Where the currency depreciation is a result of government inflation carried out by the issue of notes, it is possible to avert its disastrous effect on economic calculation by conducting all bookkeeping in a stable money instead. But so far as the depreciation is a depreciation of gold, the world money, there is no such easy way out.

In a hierarchy every employee tends to rise to his level of incompetence.

What is called storing money is a way of using wealth. The uncertainty of the future makes it seem advisable to hold a larger or smaller part of one's possessions in a form that will facilitate a change from one way of using wealth to another, or transition from the ownership of one good to that of another, in order to preserve the opportunity of being able without difficulty to satisfy urgent demands that may possibly arise in the future for goods that will have to be obtained by way of exchange.

Some say it's wrong to profit from the misfortune of others. I ask my students whether they'd support a law against doing so. But I caution them with some examples. An orthopedist profits from your misfortune of having broken your leg skiing. When there's news of a pending ice storm, I doubt whether it saddens the hearts of those in the collision repair business. I also tell my students that I profit from their misfortune—their ignorance of economic theory.

The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion.

Restrictionism, however, demands positive sacrifices from the national exchequer when it is carried out by the withdrawal of notes from circulation (say through the issue of interest-bearing bonds or through taxation) and their cancellation.The unpopularity of restrictionism has other causes as well. Attempts to raise the objective exchange-value of money, in the circumstances that have existed, have necessarily been limited either to single States or to a few States and at the best have had only a very small prospect of simultaneous realization throughout the whole world. Now as soon as a single country or a few countries go over to a money with a rising purchasing power, while the other countries retain a money with a falling or stationary exchange-value, or one which although it may be rising in value is not rising to the same extent, then, as has been demonstrated above, the conditions of international trade are modified. In the country whose money is rising in value, exportation becomes more difficult and importation easier.

the government tends to act like a corporation treating the public as its consumers rather than its citizens

My father was a slave to capitalist ideology. He didn't know what he was doing.""You mean you went to an expensive school?

Scholars have long debated whether capital markets lead to appropriate levels of saving and investment for future generations.

Executive ability is deciding quickly and getting somebody else to do the work.

Without some dissimulation no business can be carried on at all.

The oldest and most popular instrument of etatistic monetary policy is the official fixing of maximum prices. High prices, thinks the etatist, are not a consequence of an increase in the quantity of money, but a consequence of reprehensible activity on the part of 'bulls' and 'profiteers'; it will suffice to suppress their machinations in order to ensure the cessation of the rise of prices. Thus it is made a punishable offence to demand, or even to pay, 'excessive' prices.

I know I’m not the patron saint of etiquette and me attitude stinks of arse, but at least I don’t dictate to nay cunt how they ought to spend their days. There are six billion of us on this rock. Why should we all like vanilla ice cream, wear supermarket denim and set our alarm clocks for the nine to five grind?

The ability to deal with people is as purchasable a commodity as sugar or coffee. And I pay more for that ability than for any other under the sun.

The central element in the economic problem of money is the objective exchange-value of money, popularly called its purchasing power.

What recommends commerce to me is its enterprise and bravery. It does not clasp its hands and pray to Jupiter.