A Quote by Joseph A. Schumpeter

The capitalist engine is first and last an engine of mass production which unavoidably also means production for the masses. . . . It is the cheap cloth, the cheap cotton and rayon fabric, boots, motorcars and so on that are the typical achievements of capitalist production, and not as a rule improvements that would mean much to the rich man. Queen Elizabeth owned silk stockings. The capitalist achievement does not typically consist in providing more silk stockings for queens but in bringing them within reach of factory girls.

Joseph A. Schumpeter

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Achievement Achievements Also Boots Bringing Capitalist Cheap Cloth Consist Cotton Does Elizabeth Engine Fabric Factory First Last Man Mass Mass Production Masses Mean Means More Much Owned Production Providing Queen Queen Elizabeth Queens Reach Rich Rich Man Rule Silk Stockings Them Typical Which Within Within Reach Would

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Joseph A. Schumpeter
American - Economist
February 8, 1883 - January 8, 1950

The capitalist achievement does not typically consist in providing more silk stocking for queens but in bringing them within the reach of factory girls in return for a steadily decreasing amount of effort.

Joseph A. Schumpeter

The monopoly of capital becomes a fetter upon the mode of production, which has sprung up and flourished along with, and under it. Centralisation of the means of production and socialisation of labour at last reach a point where they become incompatible with there capitalist integument. This integument is burst asunder. The knell of capitalist private property sounds. The expropriators are expropriated.

Karl Marx

The characteristic feature of capitalism that distinguishes it from pre-capitalist methods of production was its new principle of marketing. Capitalism is not simply mass production, but mass production to satisfy the needs of the masses.

Ludwig von Mises

We cannot say that everything developed in capitalist countries is of a capitalist nature. For instance, technology, science - even advanced production management is also a sort of science - will be useful in any society or country.

Deng Xiaoping

Production for the sake of production - the obsession with the rate of growth, whether in the capitalist market or in planned economies - leads to monstrous absurdities. The only acceptable finality of human activity is the production of a subjectivity that is auto-enriching its relation to the world in a continuous fashion.

Felix Guattari

Production for sale in a market in which the object is to realize the maximum profit is the essential feature of a capitalist world-economy. In such a system production is constantly expanded as long as further production is profitable, and men constantly innovate new ways of producing things that will expand the profit margin.

Immanuel Wallerstein

Development has to result in jobs. What we need is not just more production, but mass production and production by masses.

Narendra Modi

The capitalist mode of production and accumulation, and therefore capitalist private property, have for their fundamental condition the annihilation of self-earned private property: in other words, the expropriation of the labourer.

Karl Marx

Confronted with this double madness of the labourers killing themselves with over-production and vegetating in abstinence, the great problem of capitalist production is no longer to find producers and to multiply their powers but to discover consumers, to excite their appetites and create in them fictitious needs.

Paul Lafargue

When we call a capitalist society a consumers democracy we mean that the power to dispose of the means of production, which belongs to the entrepreneurs and capitalists, can only be acquired by means of the consumers ballot, held daily in the marketplace.

Ludwig von Mises

Capitalist production does not exist at all without foreign commerce.

Karl Marx

The way we get past capitalism is by building on the healthy non-capitalist aspects of our world while we also do pitched battle with the capitalist ones that we have a fair chance of winning against. In that way we build a better world and shrink the destructive capitalist practices that are part of the social fabric.

Cynthia Kauffman

No matter whether it is their intention or not, almost anything that the rich can legally do tends to help the poor. The spending of the rich gives employment to the poor. But the saving of the rich, and their investment of these savings in the means of production, gives just as much employment, and in addition makes that employment constantly more productive and more highly paid, while it also constantly increases and cheapens the production of necessities and amenities for the masses.

Henry Hazlitt

I cannot always sympathize with that demand which we hear so frequently for cheap things. Things may be too cheap. They are too cheap when the man or woman who produces them upon the farm or the man or woman who produces them in the factory does not get out of them living wages with a margin for old age and for a dowry for the incidents that are to follow. I pity the man who wants a coat so cheap that the man or woman who produces the cloth or shapes it into a garment will starve in the process.

Benjamin Harrison

Competition always tends to bring about the most economical and efficient method of production. Those who are most successful in this competition will acquire more capital to increase their production still further; those who are least successful will be forced out of the field. So capitalist production tends constantly to be drawn into the hands of the most efficient.

Henry Hazlitt

Because of poverty, we must adopt the capitalist means of production to develop our resources to get rich. However, if we ignore the issue of social justice at the beginning of China's industrialization, we will sow the seeds of class warfare in the future.

Sun Yat-sen

A Quote by Joseph A. Schumpeter

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