A Quote by Henry Hazlitt
The system of capitalism, of the market economy, is a system of freedom, of justice, of productivity. But these three virtues cannot be separated. Each flows out of the other.
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It's time to admit that public education operates like a planned economy, a bureaucratic system in which everybody's role is spelled out in advance and there are few incentives for innovation and productivity. It's no surprise that our school system doesn't improve: It more resembles the communist economy than our own market economy.
The superior freedom of the capitalist system, its superior justice, and its superior productivity are not three superiorities, but one. The justice follows from the freedom and the productivity follows from the freedom and the justice.
I think on the efficiency level, not only the distribution level, capitalism is a flawed system. It probably has the same virtues as Churchill attributed to democracy: It's the worst system except for any other. And I think that's right, but it cannot be thought that some unmitigated belief in free markets is a cure even from the efficiency point of view.
The market economy-capitalism-is a social system of consumers' supremacy.
Neoliberalism is going to fail by being replaced. The system is entirely broken. Whenever you have a system that equates a market economy with a market society and claims that capitalism is democracy, you've not only got a massive lie being imposed on the people, but you've got the foundation for a form of authoritarianism and a much more intensive form of class warfare.
But while capitalism may be a convenient scapegoat, it did not cause any of these problems. Indeed, whatever one wishes to call the unruly mixture of freedom and government controls that made up our economic and political system during the last three decades, one cannot call it capitalism.
Free markets. What does this system mean? The answer is simple: it is the market economy, it is the system in which the cooperation of individuals in the social division of labor is achieved by the market.
I think the American justice system has a lot more issues than the European justice system, especially the Scottish justice system. We have a really nice mix of European codified law and the traditional English system of common law, which is what the American system is based on.
Let's figure out ways of keeping our children out of the juvenile justice system and in the classroom so that they'll thrive. Because if you're in the juvenile justice system, the chances of your going into the adult penal system are greatly increased.
The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences.
Capitalism or market economy is that system of social cooperation and division of labor that is based on private ownership of the means of production.
I think capitalism will not disappear, but it's going to increasingly not be the exclusive arbiter of economic life. It's going to have to find value in interacting with the sharing economy on many levels. And this hybrid system that's already emerging among millennials is going to be a mature system where, by midcentury, part of the day will be in the capitalist market, part of the day in the sharing economy, depending on your marginal costs.
My father thought, and now I think too, that the system of democracy is entirely based upon the system of justice. If we do not have a system of justice that people believe in, the system of democracy will fail.
Anarchism is opposed to states, armies, slavery, the wages system, the landlord system, prisons, monopoly capitalism, oligopoly capitalism, state capitalism, bureaucracy, meritocracy, theocracy, revolutionary governments, patriarchy, matriarchy, monarchy, oligarchy, protection rackets, intimidation by gangsters, and every other kind of coercive institution. In other words, anarchism opposes government in all its forms.
To speak of ‘limits to growth’ under a capitalistic market economy is as meaningless as to speak of limits of warfare under a warrior society. The moral pieties, that are voiced today by many well-meaning environmentalists, are as naive as the moral pieties of multinationals are manipulative. Capitalism can no more be ‘persuaded’ to limit growth than a human being can be ‘persuaded’ to stop breathing. Attempts to ‘green’ capitalism, to make it ‘ecological’, are doomed by the very nature of the system as a system of endless growth.
Capitalism is very far from a perfect system, but so far we have yet to find anything that clearly does a better job of meeting human needs than a regulated capitalist economy coupled with a welfare and health care system that meets the basic needs of those who do not thrive in the capitalist economy. If we ever do find a better system, I'll be happy to call myself an anti-capitalist.
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