A Quote by Robert Reich
Some argue shareholder capitalism has proven more efficient. It has moved economic resources to where they're most productive, and thereby enabled the economy to grow faster.
Related Quotes
I don't know who you would blame for this, whether Ricardo or others, but we created a fictitious economic theory to praise a rentier or rent-derived, interest-derived capitalism that countered productive forces within the economy.
Greed is good to most economists. It's greed that makes people work harder, be more productive and helps the economy grow.
Unrestricted laissez faire capitalism allocates resources in a most efficient way to satisfy human wants without regard to the rationality or morality of those desires.
For nearly two centuries, scholars and politicians have debated the future of capitalism. Its critics, most prominent among them Karl Marx, have seen capitalism as intrinsically unstable, full of contradictions that will lead eventually to its collapse. Its supporters see it as the best way to allocate resources and rewards. Some even hint that the democratic capitalistic society is not just a phase in the historical evolution of economic systems but its ultimate end.
The social inefficiency of capitalism is going to clash at some point with the technological innovations capitalism engenders, and it is out of that contradiction that a more efficient way of organising production and distribution and culture will emerge.
As our farms and factories grew more efficient, they accounted for a shrinking share of our economy. And the more productive agriculture and manufacturing became, the fewer people they employed.
Capitalism has its weaknesses. But it is capitalism that ended the stranglehold of the hereditary aristocracies, raised the standard of living for most of the world and enabled the emancipation of women.
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.
A more productive economy in the long term will bring us higher tax revenues, but that requires long-term investment in infrastructure and the skills necessary to grow a balanced economy.
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.
For me, having a daughter made me much more efficient and productive. I would wake up in the morning trying to figure out how to organize my day so that I could get home. The phone calls with friends, the lunches out with colleagues - all of that got scrapped so that I could be as efficient and productive as possible.
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.
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.
Today's national income statistics make it appear that Goldman Sachs is productive. As if Donald Trump plays a productive role. The aim is to make it appear that people who take money from the rest of the economy without working are productive, despite not really providing any service that actually contributes to GDP and economic growth.
Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow. Flexible and efficient markets for labor and capital, an entrepreneurial tradition, and a general willingness to tolerate and even embrace technological and economic change all contribute to this resiliency.
We have the knowledge, resources, and capabilities to make global capitalism work in a more inclusive and socially responsible manner while retaining - indeed enhancing - its economic benefits.
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