A Quote by John Kenneth Galbraith
The inborn instability of capitalism has been part of the history of the system for several hundred years.
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The inborn instability of capitalism has been part of the history of the system for several hundred years, including recurrent speculative episodes. There should be no doubt in anyone's mind that we're now having another one of those speculative episodes.
More material progress has been made during the past one hundred and fifty years under the American system of business enterprise than during all the preceding centuries in world history. This record of achievement is a challenge to those who would radically change that system.
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.
No system in history capitalism has been more relentless in battering down ancient and fragile cultures, devouring the resources of whole regions, pulverizing centuries-old practices in a matter of years, and standardizing the varieties of human experience.
All existing art was religious until perhaps a hundred years ago. Within that there's obviously been lots of room for manipulation. I think that's because our current religion is capitalism. Capitalism has the functions of patronage, commissions, control of content, bestowing of space, elevation of certain artists over others based on how much they pander to people in power, the determination of value of the work, all of it. Capitalism commissions artwork now, the market.
Unilever has been around for 100-plus years. We want to be around for several hundred more years.
There is, for instance, only one page at the beginning of Runciman's three-volume History of the Crusades describing how the participants decided to begin four hundred years of wars, and then several thousand pages devoted to the routes, battles and other events which make up the "history" of the Crusades.
Canada evolved within the British Empire: it inherited the Parliamentary system, the Cabinet system and all the other features of the British constitutional system which had been in place, for the most part, for several centuries before Canada was even thought of.
I've said for thirty years that capitalism is an exhausted system. But now you can see the handwriting everywhere. And one especially horrifying part is the fiscal crisis.
Capitalism cannot be reduced to one or a few features, but it does possess one relationship, central to its existence and operation, that constitutes the essence of inequality and ineradicable instability: the wage-labor-capital connection that dwells at the heart of the system.
From a distance, the American political system is a remarkable success. We have accomplished the peaceful transfer of power for more than two hundred years, and that's unmatched by any civilization in human history. Up close, our political system still has all the ugliness and bad actors that you might suspect.
I'm signing on to be an athlete, and it's almost like Karl Marx's theory on capitalism. I am both the worker and the product. I'm choosing to be a part of this system, thus I'm choosing to be part of the conditions that are set in this system.
When I started giving talks about women's history, one of the things that bothered me was the tendency to say, 'Well, everybody was totally oppressed and suddenly in 1964 we rose up, got our freedom, and here we are.' It dismisses the women who fought for rights for several hundred years of our history up to that point.
Capitalism has been called a system of greed—yet it is the system that raised the standard of living of its poorest citizens to heights no collectivist system has ever begun to equal, and no tribal gang can conceive of.
The Great Depression in the United States, far from being a sign of the inherent instability of the private enterprise system, is a testament to how much harm can be done by mistakes on the part of a few men when they wield vast power over the monetary system of the country.
About two hundred or two hundred and fifty years after the death of Grettir, his history was committed to writing, and then it became fixed - nothing further was added to it, and we have his story after having travelled down over two hundred years as a tradition.
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