A Quote by C. Wright Mills

The market is sovereign and in the magic economy of the small entrepreneur there is no authoritarian center... in the political sphere... the equilibrium of powers prevails, and hence there is no chance of despotism.

C. Wright Mills

Quote Topics

Authoritarian Center Chance Despotism Economy Entrepreneur Equilibrium Hence Magic Market No Chance Political Powers Prevails Small Sovereign Sphere

Quote Author

C. Wright Mills
American - Sociologist
August 28, 1916 - March 20, 1962

It remains to be seen, for example whether China can continue to develop as a market economy while still retaining an authoritarian communist political system.

Peter Dicken

The parallel existence and mutual interaction of "state" and "market" in the modern world create "political economy"; without both state and market there could be no political economy.

Robert Gilpin

The most serious problems lie in the financial sphere, where the economy's debt overhead has grown more rapidly than the 'real' economy's ability to carry this debt. [...] The essence of the global financial bubble is that savings are diverted to inflate the stock market, bond market and real estate prices rather than to build new factories and employ more labor.

Michael Hudson

When the Founders thought of democracy, they saw democracy in the political sphere - a sphere strictly limited by the Constitution's well-defined and enumerated powers given the federal government. Substituting democratic decision making for what should be private decision making is nothing less than tyranny dressed up.

Walter E. Williams

An economy may be in equilibrium from a short-period point of view and yet contain within itself incompatibilities that are soon going to knock it out of equilibrium.

Joan Robinson

In modern times, dogs may be pampered, but historically, a dog's life wasn't much to bark about. Hence a dog's chance is a small chance.

Anu Garg

It is not because a part of the government is elective, that makes it less a despotism, if the persons so elected, possess afterwards, as a parliament, unlimited powers. Election, in this case, becomes separated from representation, and the candidates are candidates for despotism.

Thomas Paine

Globalization, meaning the global expansion of a market economy, is the only way we can guarantee widespread prosperity and peace. A lot of nations are just so small, that unless they can sell their goods and services on the market they're never going to develop, they don't have an internal market that's big enough to sustain anything.

Douglas Massey

A free economy is as essential to society as democratic political institutions. A strong market-based economy is the fertile ground for democratic freedoms that we think are important.

Lee R. Raymond

Political democracy cannot flourish under all economic conditions. Democracy requires an economic system which supports the political ideals of liberty and equality for all. Men cannot exercise freedom in the political sphere when they are deprived of it in the economic sphere.

Mortimer Adler

I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system.

Nouriel Roubini

Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.

Ludwig von Mises

The first principle of the market economy is that it is comprised of many small buyers and sellers, which implies a substantial degree of equity. Another fundamental market principle is that costs are internalized in the producer's price.

David Korten

God is an intelligible sphere-a sphere known to mind, not to the senses-whose center is everywhere and whose circumference nowhere.

Joseph Campbell

The most important feature of an information economy, in which information is defined as surprise, is the overthrow, not the attainment, of equilibrium. The science that we have come to know as information theory establishes the supremacy of the entrepreneur because it appreciates the powerful connection between destruction and what Schumpeter described as "creative destruction," between chaos and creativity.