A Quote by Richard D. Wolff
In America, we debate everything except capitalism. If there's an institution in your society that's above criticism, you're giving it a free pass to indulge all of its weaknesses and darker tendencies.
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We do not have free market capitalism in America; we have crony capitalism. There is a huge difference between free market capitalism that democratizes a country and makes us more efficient and prosperous and corporate crony capitalism.
All legislation, all government, all society is founded upon the principle of mutual concession, politeness, comity, courtesy; upon these everything is based...Let him who elevates himself above humanity, above its weaknesses, its infirmities, its wants, its necessities, say, if he pleases, I will never compromise; but let no one who is not above the frailties of our common nature disdain compromises.
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 viewpoint of economic democracy, the capitalism-socialism debate was a debate between private and state capitalism (i.e., the private or public employment system), and the debate was as misframed as would be a debate between the private or public ownership of slaves.
Capitalism is not about the profit motive. Capitalism is about free markets. What you do in the market, in your free will, is the essence of capitalism.
The greatness of America is capitalism, free market capitalism. The exceptionalism of American business.
It is not uncommon to suppose that the free exchange of property in markets and capitalism are one and the same. They are not. While capitalism operates through the free market, free markets don't require capitalism.
Consider children as a beat. Clearly not an institution of power, children don't vote and they don't pass taxes. They have no money, and they don't buy newspapers or watch the news on television. Consequently, children are one of the most neglected segments of society in the news, except as a subtopic of other power beats such as education, family, and crime. Children are in serious trouble in this society, which means the foundation of our society is in trouble, which means the future is in trouble, and that is news.
Property, as a general social institution, well-divided property, having disappeared and Capitalism having taken its place, you cannot reverse the process without acting against natural economic tendencies.
The historical debate is over. The answer is free-market capitalism.
There is nothing sacred or untouchable except the freedom to think. Without criticism, that is to say, without rigor and experimentation, there is no science, without criticism there is no art or literature. I would also say that without criticism there is no healthy society.
It has been my pleasure to speak at many Federalist Society gatherings around the country, and I think one thing your organization has definitely done is to contribute to free speech, free debate, and most importantly public understanding of, awareness of, and appreciation of the Constitution. So that's a marvelous contribution, and in a way I must say I'm jealous at how the Federalist Society has thrived at law schools.
Karl Marx left it to others to find the way beyond capitalism to a higher form of society. He saw his role as giving them as accurate a theory as he could of how capitalism works, which would also show them the reasons why it needs to be abolished and replaced by a freer and more human form of society.
I think, with Hank Paulson, the concept of a bailout was anathema to him from day one. He was a Republican; he's a free marketeer. He believes in capitalism, and part of capitalism is believing in failure. And so the idea of bailing out an institution, I think, went against every part of him.
Face your path with courage, don't be scared of people's criticism. And, above all, don't let yourself get paralyzed by your own criticism.
Addressing the weaknesses of capitalism will require us, above all, to do two things: first, to take a long-term perspective, and second, to re-set the priorities of business.
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