Economic Systems Quotes

Well first of all, tell me, is there some society you know of that doesn't run on greed? You think Russia doesn't run on greed? You think China doesn't run on greed? What is greed? Of course, none of us are greedy, it’s only the other fellow who’s greedy. The world runs on individuals pursuing their separate interests. The great achievements of civilization have not come from government bureaus. Einstein didn’t construct his theory under order from a bureaucrat. Henry Ford didn’t revolutionize the automobile industry that way. The only cases in which the masses have escaped from the kind of grinding poverty you’re talking about, the only cases in recorded history, are where they have had capitalism and largely free trade. If you want to know where the masses are worse off, worst off, it’s exactly in the kinds of societies that depart from that. So that the record of history is absolutely crystal clear, that there is no alternative way so far discovered of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by the free-enterprise system.

Under capitalism, man exploits man. Under communism, it's just the opposite.

The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.

Socialism is a wonderful idea. It is only as a reality that it has been disastrous. Among people of every race, color, and creed, all around the world, socialism has led to hunger in countries that used to have surplus food to export.... Nevertheless, for many of those who deal primarily in ideas, socialism remains an attractive idea -- in fact, seductive. Its every failure is explained away as due to the inadequacies of particular leaders.

Communism only works in Heaven, where they don’t need it, and in hell, where they’ve already got it.

Capitalism is the fullest expression of anarchism, and anarchism is the fullest expression of capitalism.

The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.

The difference between [socialism and fascism] is superficial and purely formal, but it is significant psychologically: it brings the authoritarian nature of a planned economy crudely into the open. The main characteristic of socialism (and of communism) is public ownership of the means of production, and, therefore, the abolition of private property. The right to property is the right of use and disposal. Under fascism, men retain the semblance or pretense of private property, but the government holds total power over its use and disposal.

SOCIALISM—You have two cows, you give one to your neighbor; COMMUNISM—You have two cows, the government takes them both and gives you the milk; FASCISM—You have two cows, the government takes both and sells you the milk NAZISM—You have two cows, the government takes both and shoots you; CAPITALISM—You have two cows, you sell one and buy a bull; TRADE UNIONISM—You have two cows, they take them from you, shoot one, milk the other and throw the milk away; MORAL: Don't have anything to do with cows. They only bring you trouble.

Communism is idiocy. They want to divide up the property. Suppose they did it -- it requires brains to keep money as well as make it. In a precious little while the money would be back in the former owner's hands and the communist would be poor again.

Communism is inequality, but not as property is. Property is the exploitation of the weak by the strong. Communism is the exploitation of the strong by the weak

Communism doesn't work because people like to own stuff

Markets work; morals matter.

The world's becoming a museum of socialist failures.

'Reinventing the Bazaar,' by John McMillan, is a great and fun introduction to the wild variety and importance of markets throughout history and around the world. I finally understood how a Middle Eastern souk actually works economically and how to compare that to modern-day telecom-spectrum auctions. I love that book.

Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.

The revolution eats its own. Capitalism re-creates itself.

I can prophecy that your grandchildren in America will live under socialism -- Our firm conviction is that sooner or later Capitalism will give way to Socialism. Whether you like it or not, history is on our side. We will bury you.

Our battle is against the bourgeoisie as the enemy of German Socialism and the saboteur of national freedom.

Capitalism is not a perfect system. It may be better than all the other systems, but it's not a perfect system.

No true Latter-day Saint and no true American can be a socialist or a communist.

Socialism of any type leads to a total destruction of the human spirit...

We can learn something from Marxist thinking, but we cannot follow Marxist methods.

I think the thing about capitalism is it's an evil necessity, capitalism. Communism has been tried and failed, and socialism, that doesn't work very well. Capitalism works, but the problem about capitalism is it does mean that a few individuals become very wealthy. Therefore, I think those individuals have enormous responsibility to redistribute that wealth either by creating new businesses or creating new jobs and making sure that money just doesn't lie in a bank account for future generations.

Capitalism is very undemocratic. Capitalism gives you power according to your wealth while democracy gives you power according to your existence.