A Quote by Hilaire Belloc
Capitalism had arisen through the misuse and exaggeration of certain rights, notably the right of property - the basis of economic freedom - and the right of contract, which is one of the main functions of economic freedom. Therefore, even under Capitalism, so long as the old principles were remembered it was possible to recall the principles whereby Society had once been sane and well ordered.
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The economic freedom which is the prerequisite of any other freedom cannot be the freedom from economic care which the socialist promise us, and which can be obtained only by relieving the individual at the same time of the necessity and of the power of choice: it must be the freedom of economic activity which, with the right of choice, inevitably also carries the risk and the responsibility of that right
In these sacred documents are embodied eternal principles that no man, group of men, or nation has the right to withhold from others. Here is our basis for freedom of individual achievement. Our Constitution with its Bill of Rights guarantees to all our people the greatest freedom ever enjoyed by the people of any great nation. This system guarantees freedom of individual enterprise, freedom to own property, freedom to start one's own business and to operate it according to one's own judgment so long as the enterprise is honorable.
Viewed as a means to the end of political freedom, economic arrangements are important because of their effect on the concentration or dispersion of power. The kind of economic organization that provides economic freedom directly, namely, competitive capitalism, also promotes political freedom because it separates economic power from political power and in this way enables the one to offset the other
Let us then repeat and firmly fix this main point: the evil, the root evil, of that to which the term Capitalism has come to be applied, is neither its functioning for profit nor its dependence upon legally protected private property; but the presence of a Proletariat, that is of men possessing political freedom, but dispossessed of economic freedom, and existing in such large numbers in any community as to determine the tone of all that community.
We are inclined to confuse freedom and democracy, which we regard as moral principles, with the way in which they are practiced in America with capitalism, federalism, and the two-party system, which are not moral principles but simply the preferred and accepted practices of the American people.
Post-1989 capitalism was far more unfriendly to economic and social rights than was the prior capitalism seeking to win public approval as a more compassionate economic arrangement than that which prevailed in state socialist economies.
But if we are to retain freedom, then we can only do so by keeping the determining mass of the citizens the possessors of property with personal control over it, as individuals or as families. For property is the necessary condition of economic freedom in the full sense of that term. He that has not property is under economic servitude to him who has property, whether the possessor of it be another individual or the State.
In the pre-capitalist world, everyone had a place. It might not have been a very nice place, even maybe a horrible place, but at least they had some place in the spectrum of the society and they had some kind of a right to live in the place. Now that's inconsistent with capitalism, which denies the right to live. You have only the right to remain on the labour market.
It is therefore our business to restore economic freedom through the restoration of the only institution under which it flourishes, which institution is Property. The problem before us is, how to restore Property so that it shall be, as it was not so long ago, a general institution.
The kind of capitalism we are seeing today under this expansion of property into living resources is a whole, new, different phase of capitalism. It is totally inconsistent with democracy as well as with sustainability. What we have is capital working on a global scale, totally uprooted, with accountability nowhere, with responsibility nowhere, and with rights everywhere. This new capital, with absolute freedom and no accountability, is structurally anti-life, anti-freedom.
I studied what principles under-laid peace and prosperity and concluded the only way to achieve societal well-being was through a system of economic freedom.
What is the use of freedom of the press if the government is in possession of all the printing presses, what does freedom of assembly avail if all the meeting places belong to the government? In a society in which there is no more personal and economic freedom, even the freest form of the state cannot make political independence possible.
Freedom in economic arrangements is itself a component of freedom broadly understood, so economic freedom is an end in itself ... Economic freedom is also an indispensable means toward the achievement of political freedom.
Capitalism as a social order and as a creed is the expression of the belief in economic progress as leading toward the freedom and equality of the individual in a free and open society. Marxism expects this society to result from the abolition of private profit. Capitalism expects the free and equal society to result from the enthronement of private profit as supreme ruler of social behavior.
From the time I first understood economic principles, I was always concerned also that any system be operated on an efficient basis, which meant decentralization because knowledge is not concentrated anywhere. It's based on motivation, and so these are the advantages of, say, the cautious case for capitalism, that the market system is efficient.
Today, on this day of possibility, we stand in the shadow of a lanky, raw-boned man with little formal education who once took the stage at Old Main and told the nation that if anyone did not believe the American principles of freedom and equality, that those principles were timeless and all-inclusive, they should go rip that page out of the Declaration of Independence.
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