Capital Quotes - page 48
Production is carried on for profit, not for use. There is no provision that all those able and willing to work will always be in a position to find employment; an "army of unemployed" almost always exists. The worker is constantly in fear of losing his job. Since unemployed and poorly paid workers do not provide a profitable market, the production of consumers' goods is restricted, and great hardship is the consequence. Technological progress frequently results in more unemployment rather than in an easing of the burden of work for all. The profit motive, in conjunction with competition among capitalists, is responsible for an instability in the accumulation and utilization of capital which leads to increasingly severe depressions. Unlimited competition leads to a huge waste of labor, and to that crippling of the social consciousness of individuals.
Albert Einstein
The one case in which he referred to the "invisible hand" was that in which private persons preferred the home trade to the foreign trade, and he held that such preference was in the national interest, since it replaced two domestic capitals while the foreign trade replaced only one. The argument of the two capitals was a bad one, since it is the amount of capital that matters, not its subdivision; but the invisible sanction was given to a Protectionist idea, not for defence but for employment. It is not surprising that Smith was often quoted in Parliament in support of Protection. His background, like ours today, was private enterprise; but any dogma of non-intervention by government has to make heavy weather in The Wealth of Nations.
Adam Smith
The idea of comparative advantage works when there is a complex local economy intact in the background of each trading partner's specialized item of production, with a variety of social roles and occupational niches to support the long-term project of community. But a locality geared to doing only one thing for export is... a slave system based on the extractive economics of mining. [...] One group had all the cheap labor, and another group had all the capital, and for a while, one group made all the things that the other group "consumed.” Thus, comparative advantage became, for a time, a con game strictly for the benefit of large corporations, which ended up enjoying all the advantages while the localities sucked up the costs.
James Howard Kunstler
The solution to these problems does not rest on a massive program in Washington, nor can it rely solely on the strained resources of local authority. They require us to create new concepts of cooperation, a creative federalism, between the National Capital and the leaders of local communities. Woodrow Wilson once wrote: "Every man sent out from his university should be a man of his Nation as well as a man of his time." Within your lifetime powerful forces, already loosed, will take us toward a way of life beyond the realm of our experience, almost beyond the bounds of our imagination.
Lyndon B. Johnson
This center will reflect the finest artistic achievements of our time. It is our hope that it will house the leading artists and performers. Almost every industrialized nation in the world, on both sides of the Iron Curtain, has one or more national centers for the arts. Washington has lagged behind. Far too often, American actors and singers and musicians must travel to foreign countries to even be heard. Now, because of President Kennedy's leadership and your efforts, they will have a stage here in the Capital of their own country. I expect this center to be a living force for the encouragement of art. Washington needs new theaters and new concert halls. But if that is all that we are building, we will have fallen far short of today's expectation and promise.
Lyndon B. Johnson
The author is quite aware of the monstrous relations in human and international affairs brought forth by the egotistical principle of capital when it is not under pressure from socialist and progressive forces. He also thinks, however, that progressives in the West understand this better than he does and are waging a struggle against these manifestations. The author is concentrating his attention on what is before his eyes and on what is obstructing, from his point of view, a worldwide overcoming of estrangement, obstructing the struggle for democracy, social progress, and intellectual freedom.
Our country has started on the path of cleansing away the foulness of Stalinism. "We are squeezing the slave out of ourselves drop by drop" (an expression of Anton Chekhov). We are learning to express our opinions, without taking the lead from the bosses and without fearing for our lives.
Andrei Sakharov
