Donald Sassoon Quotes
Controlling capitalism has proved far more difficult than controlling anything else, because capitalism is based on the control of the many by the few—the reverse of the conventional definition of political democracy.
Donald Sassoon, Political & Economic Historian, Political Scientist, One Hundred Years of Socialism, 1996
Sourced by: Eigen's Political and Historical Quotations
The term “rugged individualism” was used at the time be very conservatives and the very wealthy to describe business leladers with words that had very good public connotations. They argued that it would be undesirable to curtail their individualism that was so important by any government regulations or laws that would limit what the business leaders could do. However, the reality was that these very successful and powerful “rugged individualists” had regimented most everyone else—employees, consumers, and small businessmen who might sell them services or products. To Tugwell, if the wealthy and powerful few had no restrictions on their individualism, there would be precious little individualism for most of society. He sought a balance of regulating the individualism and prerogatives of the few somewhat in order to allow the vast majority of people to be able to have individuality as well.
15 years later the lesson hit hard with the Meltdown of 2008 and the Great Recession where many developed counties became servants to capitalism again and struggled to regain control.
