in Quotes & Aphorisms (Economics and Finance)
Popular capitalism is nothing less than a crusade to enfranchise the many in the economic life of the nation.
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Popular capitalism is nothing less than a crusade to enfranchise the many in the economic life of the nation.
The progressive historical role of capitalism may be summed up in two brief propositions: increase in the productive forces of social labour, and the socialisation of that labour. But both these facts manifest themselves in extremely diverse processes in different branches of the national economy.
"Charlie, we ought to streamline the company and keep with the general trend of the times." But there was no moving him. I don't think Charlie knew himself what he wanted. As we were 50-50 partners, I was completely stymied.
Human rights are not only violated by terrorism, repression or assassination, but also by unfair economic structures that creates huge inequalities.
For my part 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 it is in many ways extremely objectionable.
I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.
If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.
It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics.
If I am right in supposing it to be comparatively easy to make capital-goods so abundant that the marginal efficiency of capital is zero, this may be the most sensible way of gradually getting rid of many of the objectionable features of capitalism.
For the rational study of the law the blackletter man may be the man of the present, but the man of the future is the man of statistics and the master of economics.