Capitalism Quotes - Page 6

In reality, the laborer belongs to capital before he has sold himself to capital. His economic bondage is both brought about and concealed by the periodic sale of himself, by his change of masters, and by the oscillation in the market price of labor power. Capitalist production, therefore, under its aspect of a continuous connected process, of a process of reproduction, produces not only commodities, not only surplus value, but it also produces and reproduces the capitalist relation; on the one side the capitalist, on the other the wage-laborer.
Karl Marx
The Capitalists will sell us the rope with which we will hang them.
Vladimir Lenin
The notion that capital – as an infinitely ramified system of exploitation, an abstract, intangible but overpowering logic, a process without a subject or a subject without a face – poses formidable obstacles to its representation has often been taken in a sublime or tragic key. *Vast*, beyond the powers of individual or collective cognition; *invisible*, in its fundamental forms; *overwhelming*, in its capacity to reshape space, time and matter – but unlike the sublime, or indeed the tragic, in its propensity to thwart any reaffirmation of the uniqueness and interiority of a subject. Not a shipwreck *with* a spectator, but a shipwreck *of* the spectator.
Alberto Toscano
The only thing "free" about so-called free time is that it doesn't cost the boss anything. Free time is mostly devoted to getting ready for work, going to work, returning from work, and recovering from work. Free time is an euphemism for the peculiar way labor as a factor of production not only transports itself at its own expense to and from the workplace but assumes primary responsibility for its own maintenance and repair.
Bob Black
Like capitalism,” Carl suggested. “‘We’ll give you so much pleasure, you’ll never want to try another socioeconomic system.
Caleb Crain
The first value of money was clearly the value which the goods used as money possessed (thanks to their suitability for satisfying human wants in other ways) at the moment when they were first used as common media of exchange.
Ludwig von Mises
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.
Ludwig von Mises
Alterations in real prices occur slowly as a rule. But this stability of prices has its cause in the stability of the price-determinants, not in the Law of Price-determination itself. Prices change slowly because the subjective valuations of human beings change slowly. Human needs, and human opinions as to the suitability of goods for satisfying those needs, are no more liable to frequent and sudden changes than are the stocks of goods available for consumption, or the manner of their social distribution;
Ludwig von Mises
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.
Ludwig von Mises
The marginal utility of money to any individual, i.e., the marginal utility derivable from the goods that can be obtained with the given quantity of money or that must be surrendered for the required money, presupposes a certain exchange-value of the money; so the latter cannot be derived from the former. 1 Those who have realized the significance of historically-transmitted values in the determination of the objective exchange-value of money will not find great difficulty in escaping from this apparently circular argument.
Ludwig von Mises
The objective exchange-value of money which rules in the market to-day is derived from yesterday's under the influence of the subjective valuations of the individuals frequenting the market, just as yesterday's in its turn was derived under the influence of subjective valuations from the objective exchange-value possessed by the money the day before yesterday. If in this way we continually go farther and farther back we must eventually arrive at a point where we no longer find any component in the objectIve exchange-value of money that arises from valuations based on the function of money as a common medium of exchange; where the value of money is nothing other than the value of an object that is useful in some other way than as money.
Ludwig von Mises
Before it was usual to acquire goods in the market, not for personal consumption, but simply in order to exchange them again for the goods that were really wanted, each individual commodity was only accredited with that value given by the subjective valuations based on its direct utility. It was not until it became customary to acquire certain goods merely in order to use them as media of exchange that people began to esteem them more highly than before, on account of this possibility of using them in indirect exchange. The individual valued them in the first place because they were useful in the ordinary sense, and then additionally because they could be used as media of exchange. Both sorts of valuation are subject to the law of marginal utility.
Ludwig von Mises
The error in this conclusion may be most simply demonstrated by means of an actual example. Let us select for this purpose the monetary history of Austria, which Laughlin also uses as an illustration. From 1859 onwards the Austrian National Bank was released from the obligation to convert its notes on demand into silver, and nobody could tell when the State paper-money issued in 1866 would be redeemed, or even if it would be redeemed at all. It was not until the later 'nineties that the transition to metallic money was completed by the actual resumption of cash payments on the part of the Austro-Hungarian Bank.
Ludwig von Mises
The core of the doctrine consists in the proposition that the supply of money and the demand for it both affect its value. This proposition is probably a sufficiently good hypothesis to explain big changes in prices; but it is far from containing a complete theory of the value of money. It describes one cause of changes in prices; it is nevertheless inadequate for dealing with the problem exhaustively. By itself it does not comprise a theory of the value of money; it needs the basis of a general value theory. One after another, the doctrine of supply and demand, the cost-of-production theory, and the subjective theory of value have had to provide the foundations for the Quantity Theory.
Ludwig von Mises
The older theories, which started from an erroneous conception of the social demand for money, could never arrive at a solution of this problem. Their sole contribution is limited to paraphrases of the proposition that an increase in the stock of money at the disposal of the community while the demand for it rClnains the same decreases the objective exchange-value of money, and that an increase of the demand with a constant available stock has the contrary effect, and so on. By a flash of genius, the formulators of the Quantity Theory had already recognized this. We cannot by any means call it an advance when the formula giving the amount of the demand for money (Volume of Transactions + Velocity of Circulation) was reduced to its elements.
Ludwig von Mises
a variation in the objective exchange-value of money can arise only when a force is exerted in one direction that is not cancelled by a counteracting force in the opposite direction. If the causes that alter the ratio between the stock of money and the demand for it from the point of view of an individual consist merely in accidental and personal factors that concern that particular individual only, then, according to the law of large numbers, it is likely that the forces arising from this cause, and acting in both directions in the market, will counterbalance each other.
Ludwig von Mises
It will be the obvious result of this that the prices of the goods concerned will rise, and that the objective exchange-value of money will fall in comparison. But this rise of prices will by no means be restricted to the market for those goods that are desired by those who originally have the new money at their disposal. In addition, those who have brought these goods to market will have their incomes and their proportionate stocks of money increased and, in their tum, will be in a position to demand more intensively the goods they want, so that these goods will also rise in price. Thus the increase of prices continues, having a diminishing effect, until all commodities, some to a greater and some to a lesser extent, are reached by it.
Ludwig von Mises
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.
Ludwig von Mises
It must be pointed out that the level of the total stock of money and of the value of the money unit are matters of complete indifference as far as the utility obtained from the use of the money is concerned. Society is always in enjoyment of the maximum utility obtainable from the use of money. Half of the money at the disposal of the community would yield the same utility as the whole stock, even if the variation in the value of the monetary unit was not proportioned to the variation in the stock of money.
Ludwig von Mises
The mistake in the argument of those who suppose that a variation in the quantity of money results in an inversely proportionate variation in its purchasing power lies in its starting-point. If we wish to arrive at a correct conclusion, we must start with the valuations of separate individuals; we must examine the way in which an increase or decrease in the quantity of money affects the value-scales of individuals, for it is from these alone that variations in the exchange-ratios of goods proceed.
Ludwig von Mises
Let us assume that a man gets half his income in the form of interest-bearing securities and half in the form of money; and that he is in the habit of saving three-quarters of his income, and does this by retaining the securities and using that half of his income which he receives in cash in equal parts for paying for current consumption and for the purchase of further securities. Now let us assume that a variation in the composition of his income occurs, so that he receives three-quarters of it in cash and only one-quarter in securities. From now on this man will use two-thirds of his cash receipts for the purchase of interest-bearing securities. If the price of the securities rises or, which is the same thing, if their rate of interest falls, then in either case he will be less willing to buy and will reduce the sum of money that he would otherwise have employed for their purchase; he is likely to find that the advantage of a slightly increased reserve exceeds that which could be obtained from the acquisition of the securities. In the second case he will doubtless be inclined to pay a higher price, or more correctly, to purchase a greater quantity at the higher price, than in the first case. But he will certainly not be prepared to pay double as much for a unit of securities in the second case as in the first case.
Ludwig von Mises
If we compare two static economic systems, which differ in no way from one another except that in one there is twice as much money as in the other, it appears that the purchasing power of the monetary unit in the one system must be equal to half that of the monetary unit in the other. Nevertheless, we may not conclude from this that a doubling of the quantity of money must lead to a halving of the purchasing power of the monetary unit; for every variation in the quantity of money introduces a dynamic factor into the static economic system. The new position of static equilibrium that is established when the effects of the fluctuations thus set in motion are completed cannot be the same as that which existed before the introduction of the additional quantity of money. Consequently, in the new state of equilibrium the conditions of demand for money, given a certain exchange-value of the monetary unit, will also be different. If the purchasing power of each unit of the doubled quantity of money were halved, the unit would not have the same significance for each individual under the new conditions as it had in the static system before the increase in the quantity of money.
Ludwig von Mises
If time could run backward, like a film in reverse, we would see this mess reassemble itself into lush green hills and moss-covered ledges of limestone. The streams would run back up the hills to the springs and the salt would stay glittering in underground rooms.
Robin Wall Kimmerer
Why do you accept being treated like an inmate?
Antonio Negri
The role played by man in production always consists solely in combining his personal forces with the forces of Nature in such a way that the cooperation leads to some particular desired arrangement of material. No human act of production amounts to more than altering the position of things in space and leaving the rest to Nature.
Ludwig von Mises
Marx himself wrote that capitalism produces above all its own gravediggers. Do you think that perhaps he wasn't talking about capitalism?
Paullina Simons
You have a wonderful personality. Develop it. Be yourself. Don't imagine that your perfection lies in accumulating or possessing external things. Your affection is inside of you. If only you could realise that, you would not want to be rich. Ordinary riches can be stolen from a man. Real riches cannot. In the treasury-house of your soul, there are infinitely precious things, that may not be taken from you. And so, try to so shape your life that external things will not harm you.
Oscar Wilde
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?
Robert B. Reich
Capitalism—trade and industry controlled by people instead of a state—is a fine notion. Sadly, it has devolved into a culture in which tradesmen and industrialists lie, cheat, and sacrifice themselves and others for money to buy stuff that doesn’t work, doesn’t last, and doesn’t matter. And after they’re dead, their lives haven’t mattered. Even if they built a city, others will tear it down one day to build a park. Successful capitalists invest themselves in the lives of others.
Ron Brackin
I think we're moving toward a world where all the consumers under a certain age will probably tend to identify more with their consumer status or with the products they consume then they would with ... any sort of antiquated notion of nationality.
Gibson
Has it ever occurred to you that business as you think of it may have outlived its usefulness? Business has made its contribution and the world moves on. Business is just another dodo. . . .
Clifford D. Simak
This is a nation of inconsistencies. The Puritans fleeing from oppression became oppressors. We fought England for our liberty and put chains on four million of blacks. We wiped out slavery and our tariff laws and national banks began a system of white wage slavery worse than the first. Wall Street owns the country. It is no longer a government of the people, by the people, and for the people, but a government of Wall Street, by Wall Street, and for Wall Street. The great common people of this country are slaves, and monopoly is the master.
Mary Lease
Ronald Reagan goes around saying that Nicaragua is communist and that communism is a threat to Central America. Why doesn't he say that he's a big capitalist, and that capitalism has made a great mess of Central America? Why doesn't he talk about what capitalism has done? We don't know what communism is, but we sure know what capitalism has done for us!
Elvia Alvarado
Market economy favors the have against the have not
Bangambiki Habyarimana
The question will arise and arise in your day, though perhaps not fully in mine: Which shall rule — wealth or man? Which shall lead — money or intellect? Who shall fill public stations — educated and patriotic freemen or the feudal serfs of corporate capital?
Edward G. Ryan
Once constituted, capital reproduces itself faster than output increases. The past devours the future.
Thomas Piketty
Crisis – the midwife of capitalism. The ‘advisers’ arrive and say, My god, they have no predatory class here. It is an emergency! We must create one immediately. Let us arrange to give everything to a few crooks. Then this country, too, will have a mess of parasites to rule it, to suck the value of the people’s labour.
Caleb Crain
Alfred . . . stands, high and haughty, on that good old respectable ground, the right of the strongest; and he says, and I think quite sensibly, that the American planter is 'only doing, in another form, what the English aristocracy and capitalists are doing by the lower classes;' that is, I take it, appropriating them, body and bone, soul and spirit, to their use and convenience. He defends both, – and I think, at least, consistently. He says that there can be no high civilization without enslavement of the masses, either nominal or real. There must, he says, be a lower class, given up to physical toil and confined to an animal nature; and a higher one thereby acquires leisure and wealth for a more expanded intelligence and improvement, and becomes the directing soul of the lower. So he reasons, because, as I said, he is born an aristocrat; – so I don't believe, because I was born a democrat.
Harriet Beecher Stowe
To a naive observer, money made out of precious metal was 'sound money' because the piece of precious metal was an 'intrinsically' valuable object, while paper money was 'bad money' because its value was only 'artificial'. But even the layman who holds this opinion accepts the money in the course of business transactions, not for the sake of its industrial use-value, but for the sake of its objective exchange-value, which depends largely upon its monetary employment. He values a gold coin not merely for the sake of its industrial use-value, say because of the possibility of using it as jewellery, but chiefly on account of its monetary utility. But, of course, to do something, and to render an account to oneself of what one does and why one does it, are quite different things.
Ludwig von Mises
The central element in the economic problem of money is the objective exchange-value of money, popularly called its purchasing power.
Ludwig von Mises
In the case of money, subjective use-value and subjective exchange-value coincide. Both are derived from objective exchange-value, for money has no utility other than that arising from the possibility of obtaining other economic goods in exchange for it.
Ludwig von Mises
The exchange-value of money is the anticipated use-value of the things that can be obtained with it.
Ludwig von Mises
For when the Law of Price declares that a good actually commands a particular price, and explains why it does so, it of course implies that the good is able to command this price, and explains why it is able to do so. The Law of Price comprehends the Law of Exchange-Value.
Ludwig von Mises
It is impossible to say how far the present value of money depends on its monetary employment and how far on its industrial employment. When the institution of money was first established, the industrial basis of the value of the precious metals may have preponderated; but with progress in the monetary organization of economic life the monetary employment has become more and more important. It is certain that nowadays the value of gold is largely supported by its monetary employment, and that its demonetization would affect its price in an overwhelming fashion.
Ludwig von Mises
Under bilateral competition, market-price is determined within a range whose upper limit is set by the valuations of the lowest bidder among the actual buyers and the highest offerer among the excluded would-be sellers, and whose lower limit is set by the valuations of the lowest offerer among the actual sellers and the highest bidder among the excluded would-be buyers.
Ludwig von Mises
Our philosophy is to rob everything as much as possible and forget about tomorrow...But it makes a certain sense if the sole human value is making as much wealth as you can tomorrow. You don't care what happens down the road and you don't care what happens to anybody else. It makes perfect sense. If it destroys the world, well, it's not my problem.
Noam Chomsky
A third [virtue] is the Justice to insist on private property honestly acquired. Butit is also the justice to pay willingly for good work, to honor labor, to break down privilege, to value people for what they can do rather than for who they are, to view success without envy, making capitalism work since 1776.
Deidre N
The principle locations of exploitation have moved, through the mechanism of 'globalisation', to where most of us can't see them and don't really care about them if we do.
David Smail
A highway, a bridge, a navigable canal, for example, may in most cases be both made and maintained by a small toll upon the carriages which make use of them: a harbour, by moderate port-duty upon the tonnage of the shipping which load or unload in it. The coinage, another institution for facilitating commerce, in many countries, not only defrays its own expense, but affords a small revenue or seignorage to the sovereign. The post-office, another institution for the same purpose, over and above defraying its own expense, affords in almost all countries a very considerable revenue to the sovereign. When the carriages which pass over a highway or a bridge, and the lighters which sail upon a navigable canal, pay toll in proportion to their weight or their tonnage, they pay for the maintenance of those public works exactly in proportion to the wear and tear which they occasion of them. It seems scarce possible to invent a more equitable way of maintaining such works.
Adam Smith
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
If you think that American Capitalism is the most dangerous Institution in the World, it just goes to show, that you haven't partied like there is no tomorrow with the fun loving posse of The Islamic Republic of Iran, North Korea, The Taliban, or ISIS. They all party off the hook!
James Hauenstein
What kind of men, then, does our society need? What is the "social character" suited to twentieth century Capitalism? It needs men who co-operate smoothly in large groups; who want to consume more and more, and whose tasks are standardized and can easily be influenced and anticipated. It needs men who feel free and independent, not subject to any authority, or principle, or conscience - yet willing to be commanded, to do what is expected, to fit into the social machine without friction.
Erich Fromm
The cult of self dominates our cultural landscape. This cult has within it the classic traits of psychopaths: superficial charm, grandiosity, and self-importance; a need for constant stimulation, a penchant for lying, deception, and manipulation, and the inability to feel remorse or guilt. This is, of course, the ethic promoted by corporations. It is the ethic of unfettered capitalism. It is the misguided belief that personal style and personal advancement, mistaken for individualism, are the same as democratic equality. In fact, personal style, defined by the commodities we buy or consume, has become a compensation for our loss of democratic equality. We have a right, in the cult of the self, to get whatever we desire. We can do anything, even belittle and destroy those around us, including our friends, to make money, to be happy, and to become famous. Once fame and wealth are achieved, they become their own justification, their own morality. How one gets there is irrelevant. Once you get there, those questions are no longer asked.
Chris Hedges
We’ve each given the hours of our lives in dull rote jobs for other men’s profit, and have been asked to be grateful for doing that.
Charles Bukowski
You think of killing himon the spotbut discard that thought andleave,down into the urine-stinkingelevator, they have you crucified too, America at work, where they rip out your intestinesand your brain and your will and your spirit. They suck you dry, then throw you away. The capitalist system. The work ethic. The profit motive. The memory of your father’s words,“work hard and you’ll be appreciated.” of course, only if you make much more for them than they payyou.
Charles Bukowski
The Union is what needs defending this year. Government of Enron and by Halliburton and for the Southern Baptists is not the same as what Lincoln spoke of. This gang of Republicans has humbugged us to death on terrorism and tax cuts for the comfy and school prayer and flag burning and claimed the right to know what books we read and to dump their sewage upstream from the rest of us and clear-cut the forests and gut the IRS and promote the corporate takeover of the public airwaves and to hell with anybody who opposes them.
Garrison Keillor
The fact that labour is external to the worker, i.e., it does not belong to his intrinsic nature; that in his work, therefore he does not affirm himself but denies himself, does not feel content but unhappy, does not develop freely his physical and mental energy but mortifies his body and his mind. The worker therefore only feels himself outside his work, and in his work feels outside himself.
Karl Marx
Spray a bug with a toxin and it dies; spray a man, spray his brain, and he becomes an insect that clacks and vibrates about in a closed circle forever. A reflex machine, like an ant. Repeating his last instruction.
Philip K Dick
I can quite understand a man accepting laws that protect private property, and admit of its accumulation, as long as he himself is able under those conditions to realise some form of beautiful and intellectual life. But it is almost incredible to me how a man whose life is marred and made hideous by such laws can possibly acquiesce in their continuance.
Oscar Wilde
To possess possessions, a man will "sell himself" to have what another has, but it never dawns on him ~ that the more he gets, the less he keeps of himself.
Rius

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