A Quote by Allen W. Wood

Those who see Smith as a defender of capitalism - as it existed in Marx's day, or as it exists today - show above all that they are not living in the real world. They are behaving as though the undeveloped form of capitalism Smith studied is still with us.

Allen W. Wood

Quote Topics

Above Behaving Capitalism Day Defender Existed Exists Form Living Marx Real Real World See Show Smith Still Studied The Real World Those Though Today Us World

Quote Author

Allen W. Wood
American - Professor
Born: 1942

Smith could not be expected to have anticipated the horrors that were to come. But even in his own time, he was a defender of certain state actions that he thought necessary in order to safeguard the good effects of commercial society (Smith did not speak of 'capitalism' and was acquainted only with an early undeveloped form of it). Among these state actions the chief was general public education.

Allen W. Wood

People think what's in the US today is capitalism. It's not even close to capitalism. Capitalism doesn't have a central bank, capitalism doesn't have taxes, it doesn't have regulations; capitalism is just voluntary transactions. What they have in the US today I call crapitalism. But it's sad that so many people are confused and they think, 'Oh that's free markets in the US', when it's one of the least free market countries on earth.

Jeff Berwick

The Will Smith that you see in movies is exactly the same as Will Smith in real life. Except for when he plays a superhero, because the real Will Smith can't fly. He can only hover.

Kurt Fuller

Capitalism, in contrast, has existed for fewer than 300 years. If the entire history of Homo sapiens was a 24-hour day, then capitalism has existed for two minutes.

Jim Stanford

Karl Marx left it to others to find the way beyond capitalism to a higher form of society. He saw his role as giving them as accurate a theory as he could of how capitalism works, which would also show them the reasons why it needs to be abolished and replaced by a freer and more human form of society.

Allen W. Wood

I don't think the western world is questioning capitalism. Capitalism as a concept is not something that society has written off. But today, there is degree of caution around capitalism. We believe in compassionate capitalism. Growth for growth's sake can never be an end in itself.

Kumar Mangalam Birla

You know that the population is of this planet is now ten times greater than it was in the ages preceding capitalism.; you know that all men today enjoy a higher standard of living than your ancestors did before the age of capitalism. But how do you know that you are the one out of ten who would have lived in the absence of capitalism? The mere fact that you are living today is proof that capitalism has succeeded, whether or not you consider your own life very valuable.

Ludwig von Mises

Marx saw that capitalism is a wasteful, irrational system, a system which controls us when we should be controlling it. That insight is still valid; but we can now see that the construction of a free and equal society is a more difficult task than Marx realized.

Peter Singer

To paraphrase Karl Marx, the great Karl Marx, a specter is haunting the streets of Copenhagen...Capitalism is the specter, almost nobody wants to mention it...Socialism, the other specter Karl Marx spoke about, which walks here too, rather it is like a counter-specter. Socialism, this is the direction, this is the path to save the planet, I don't have the least doubt. Capitalism is the road to hell, to the destruction of the world.

Hugo Chavez

Never was it [Capitalism] imposed on life as a system, or at all. It grew out of life, not all at once but gradually, and is therefore one of the great natural designs. When it was found and identified by such men as Adam Smith, who wrote its bible, and Karl Marx, who wrote its obituary too soon, it was already working.

Garet Garrett

ONCE UPON A TIME when the world was young there was a Martian named Smith.Valentine Michael Smith was as real as taxes but he was a race of one.

Michael Jackson

Capitalism has never stood back and examined itself properly. I think everybody knows that capitalism is the only thing that works, but is the current form of capitalism the best way of it working?

Richard Branson

I am surprised to see that today everything that does not amount to surrender pure and simple to generalized capitalism, let us call it thus, is considered to be archaic or old-fashioned, as though in a way there existed no other definition of what it means to be modern than, quite simply, to be at all times caught in the dominant forms of the moment.

Alain Badiou

Marx is thought of as an implacable foe of capitalism. But go back and read the first section of the Communist Manifesto. Notice how it contains a paean of praise for the way capitalism and the bourgeoisie have both enriched the human powers of production and also enabled us to see with clear vision the nature of human society and human history.

Allen W. Wood

There's a real difference between venture capitalism and vulture capitalism. Venture capitalism we like. Vulture capitalism, no. And the fact of the matter is that he's going to have to face up to this at some time or another, and South Carolina is as good a place to draw that line in the sand as any.