Capitalism is the use of wealth in private hands to create more wealth. It is the existing world-wide modern system of organizing production and trade by private enterprise, free to seek profit by employing human labor. Its defenders argue that never, since the beginning of history, has there been such a thing as perfect equality and harmony;... and every know period of history had rich and poor, and that actually modern technology, plus liberal democracy, plus an increased social sense, plus Capitalism, have created the modern world, and that as far as the standard of living of the average man is concerned the modern world surpasses all previous epochs of history.
Dorothy ThompsonRelated topics
average beginning democracy enterprise equality far free harmony history human labor liberal living man modern organizing perfect period plus poor previous private production profit rich seek sense social standard system technology thing trade use wealth world hands capitalismRelated quotes
Capital, explaining the origins of the capitalist mode of production, points towards the inevitable historical decline and fall of this same social system. An economic theory based upon the historical relativity of every economic system, its strict limitation in time, tactlessly reminds Messrs the capitalists, their hangers-on and their apologists that capitalism itself is a product of history. It will perish in due course as it once was born. A new social form of economic organization will then take the place of the capitalist one: it will function according to other laws than those which govern the capitalist economy.
Ernest Mandel
As far as socialism is concerned, it is not a heavenly message like Islam but a mere system for regulating the relations between man and his utilization of the means of production in this world. If we decide to regulate our national wealth, it is not against the essence of Islam. God has created man and has given him the faculty of mind to choose between good and bad, between virtue and vice. We have chose social justice instead of exploitation of man by man and this is how we can practically help the individual Muslim and direct him to [a] virtuous life. However, the reactionaries wanted to create a rift between socialism and Islam because socialism is not in their interest.
Siad Barre
The non-institutional elements of Bretton Woods, such as the gold-backed dollar standard, have gone by the wayside, but the World Bank and the IMF soldier on... Western governments tax their citizens to fund the World Bank, lend this money to corrupt Third World dictators who abscond with the funds, and then demand repayment which is extracted through taxation from poor Third World citizens, rather than from the government officials responsible for the embezzlement. It is in essence a global transfer of wealth from the poor to the rich. Taxpayers around the world are forced to subsidize the lavish lifestyles of Third World dictators and highly-paid World Bank bureaucrats who don't even pay income tax.
Ron Paul
Keynesian economics at a minimum provides a license for welfare state measures and other government efforts towards redistribution of wealth. The license is the faith that macroeconomic stabilization and prosperity are compatible with a wide range of social policies, that modern capitalism and democracy are robust enough to prosper and progress while being humane and equitable. That faith conflicts with the visions of extreme Right and Left, which agree that extremes of wealth and poverty, of security and insecurity, are indispensable to the functioning of capitalism. Keynesian policies helped to confound those dismal prophecies in the past; I think they will do so again.
James Tobin
According to the dictionary, to administer is to govern, or to manage a public or private business. It means, therefore, to seek to make the best possible use of the resources available in achieving the goal of the enterprise. Administration includes, therefore, all the operations of the enterprise. But as a result of the usual way of organizing things to facilitate the running of the business, a certain number of activities constitute the special departments; the technical department, the commercial department, the financial department, etc., and the scope of the administrative department is found to be reduced accordingly.
Henri Fayol
