A Quote by Immanuel Wallerstein
Capitalism is first and foremost a historical social system.
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What distinguishes the historical social system we are calling historical capitalism is that in this historical system capital came to be used (invested) in a very special way. It came to be used with the primary objective or intent of self-expansion. In this system, past accumulations were 'capital' only to the extend they were used to accumulate more of the same.
The truth is that capitalism has not only multiplied population figures, but at the same time, improved the people's standard of living in an unprecedented way. Neither economic thinking nor historical experience suggests that any other social system could be as beneficial to the masses as capitalism. The results speak for themselves. The market economy needs no apologists and propagandists. It can apply to itself the words of Sir Christopher Wren's epitaph in St. Paul's: Si monumentum requires, circumspice.
Laissez-faire capitalism is the only social system based on the recognition of individual rights and, therefore, the only system that bans force from social relationships.
The capitalist system was termed "capitalism" not by a friend of the system, but by an individual who considered it to be the worst of all historical systems, the greatest evil that had ever befallen mankind. That man was Karl Marx.
For we cannot adequately understand 'man' as an isolated biological creature, as a bundle of reflexes or a set of instincts, as an 'intelligible field' or a system in and of itself. Whatever else he may be, man is a social and an historical actor who must be understood, if at all, in close and intricate interplay with social and historical structures
To be sure, the use of force by one party in a market transaction in order to improve his price was no invention of capitalism. Unequal exchange is an ancient practice. What was remarkable about capitalism as a historical system was the way in which this unequal exchange could be hidden; indeed, hidden so well that it is only after five hundred years of the operation of this mechanism that even the avowed opponents of the system have begun to unveil it systematically.
People are first and foremost Republicans, first and foremost Anarchists, first and foremost a man or woman, and that is a mistake. It hurts the individual and it hurts the whole.
A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.
It was the French Revolution that served as the catalyst of this renovation. Its impact was to make the concept of popular sovereignty the new moral justification for the political system of historical capitalism.
The market economy-capitalism-is a social system of consumers' supremacy.
Despite the miracles of capitalism, it doesn't do well in popularity polls. One of the reasons is that capitalism is always evaluated against the non-existent, non-realizable utopias of socialism or communism. Any earthly system, when compared to a Utopia, will pale in comparison. But for the ordinary person, capitalism, with all of its warts, is superior to any system yet devised to deal with our everyday needs and desires.
Capitalism and socialism are two distinct patterns of social organization. Private control of the means of production and public control are contradictory notions and not merely contrary notions. There is no such thing as a mixed economy, a system that would stand midway between capitalism and socialism.
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.
Socialism is nothing more nor less than the social, political and ideological system which breaks the fetters upon economic growth created under capitalism and opens the way to a new period of economic and social expansion on a much larger scale.
Before I even pick up a guitar, usually the words are done. So I'm not first and foremost a musician. I'm first and foremost a writer.
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.
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