A Quote by John Maynard Keynes
I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable.
Related Quotes
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.
Capitalism - for the record - has lifted more people out of poverty than any other economic system in the world.
Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.
Capitalism, the ogre of those protesting Wall Street, has suffered a public relations crisis in the wake of the global economic collapse. But any remedy to the systemic corruption that led to the collapse should not displace recognition that capitalism creates wealth. Capitalism, and no other economic system, has raised millions from poverty around the world.
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 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.
I believed - and believe - that capitalism works best for a freedom-loving society, that it brings more prosperity to more people than any other social-economic system, but that somehow we have to take care of people.
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.
There are a few people, but a diminishing number, who still believe that Marxism, as an economic system, off era a coherent alternative to capitalism, and socialism has, indeed, triumphed in one country.
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.
The main experience, I think, is that we have managed: people moving to Norway has made Norway richer, economically, but also our culture has become more rich in many ways.
Poetry isn't an efficient tool for preserving experience, any more than it's an efficient mode of communication, but who says that it should be efficient?
The point is always made that capitalism is efficient, people say 'You might not like it, but it works.' But Britain is not efficient.
I see myself, in terms of the question of capitalism, as I would support democratic socialism over a capitalist system, because any approach... or participatory economics, which is another great model that people like Michael Albert are putting out there... any system that encourages us to think about interdependency, and to be able to use the world's resources in a wiser way, for the good of the whole, would be better for the world than capitalism.
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.
Resentment is at work when one so hates somebody for his more favorable circumstances that one is prepared to bear heavy losses if only the hated one might also come to harm. Many of those who attack capitalism know very well that their situation under any other economic system will be less favorable.
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Craig Roberts Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist