One thing which is striking in Malthus's theory is his insistence on contradictions and conflicts in the capitalist system. The system is shown not to be self-adjusting. Unless a large class of unproductive consumers was maintained, periodic over-production and stagnation would inevitably occur. For the first time, in English economic theory at any rate, the possibility of crises arising from causes inherent in the capitalist system was admitted.
Eric Roll, Baron Roll of IpsdenRelated topics
arising capitalist class crisis english insistence large possibility rate show stagnation striking system theory thing timeRelated quotes
The paper develops a simple macroeconomic framework for the study of exchange rate movements. The purpose is to develop a theory that is suggestive of the observed large fluctuations in exchange rates while at the same time establishing that such exchange rate movements are consistent with rational expectations formation. In developing a formal model we draw on the role of asset markets, capital mobility, and expectations that have been emphasized in recent literature.
Rudiger Dornbusch
[S]ocialism has never been a particularly stable or coherent program, a point I made in these pages in 2010. It has always been best defined as whatever socialists want it to be at any given moment. That is because its chief utility is as a romantic indictment of the capitalist status quo. As many of the defenders of the new socialist craze admit, socialism is the off-the-shelf alternative to capitalism, which has been in bad odor since at least the financial crisis of 2008.
Jonah Goldberg
Descend where you will into the lower class, in Town or Country, by what avenue you will, by Factory Inquiries, Agricultural Inquiries, by Revenue Returns, by Mining-Labourer Committees, by opening your own eyes and looking, the same sorrowful result discloses itself: you have to admit that the working body of this rich English Nation has sunk or is fast sinking into a state, to which, all sides of it considered, there was literally never any parallel.
Thomas Carlyle
The fascist movement in Italy was a spontaneous movement of large masses, with new leaders from the rank and file. It is a plebian movement in origin, directed and financed by big capitalist powers. It issued forth from the petty bourgeoisie, the slum proletariat, and even to a certain extent from the proletarian masses; Mussolini, a former socialist, is a "self-made" man arising from this movement.
Leon Trotsky
To avert the danger [posed by theory] to life, Nietzsche could choose one of two ways: he could insist on the strictly esoteric character of the theoretical analysis of life-that is, restore the Platonic notion of the noble delusion-or else he could deny the possibility of theory proper and so conceive of thought as essentially subservient to, or dependent on, life or fate... If not Nietzsche himself, at any rate his successors [Heidegger] adopted the second alternative.
Leo Strauss
