Topic: Capitalism, Matches 7 quotes.

Capital vs. Labor?

Obviously both capital and labor should be controlled in the interest of the public welfare and human freedom, which certainly includes the “right to work.” To secure this right why not let every one opposed to the tyranny and evils of the “closed shop” join a right-to-work league which shall secure through suitable legislative action an opening of the gates of opportunity to every one who is able and willing to work, independent of membership in any labor union or other organization. In other words, let us unite without delay to secure the laws and regulations necessary to insure to every worker the “right to work” without which the noble declaration that each of us has the inalienable right to life, liberty and the pursuit of happiness becomes an idle mockery.

But a far better, much quicker, more desirable and vastly simpler plan is, under existing conditions, apparently in the realm of the ideal and therefore it must await the coming of better days. I refer to the Golden Rule plan.

There is a disagreement between employer and employee. In the light of Christ’s teachings what is the right thing to do? Obviously these two parties should sit down and talk things over, each strongly motivated to treat the other as he would like to be treated, if all the circumstances were reversed. Let each one try hard to put himself in the other’s shoes. To do this each one would have to recognize the other as a brother, and both should keep in mind their obligations to the public. Love and right, not hate and force must be the means employed to determine what is fair, honest, just and humane. Neither will ask for nor expect anything the Golden Rule could not award.

Source: Elder Joseph F. Merrill
General Conference, October 1941

Topics: Capitalism

America’s abundance was created not by public sacrifices to “the common good,” but by the productive genius of free men who pursued their own personal interests and the making of their own private fortunes. They did not starve the people to pay for America’s industrialization. They gave the people better jobs, higher wages, and cheaper goods with every new machine they invented, with every scientific discovery or technological advance—and thus the whole country was moving forward and profiting, not suffering, every step of the way.

Source: Ayn Rand

Topics: America, Heritage; Capitalism; Progress; Prosperity

American prosperity and American free enterprise are both highly unusual in the world, and we should not overlook the possibility that the two are connected.

Source: Thomas Sowell

Topics: America, Heritage; Capitalism; Progress; Prosperity

The capitalistic system in its inner essence, is little, if anything, more than a man’s free right to work, to choose his work, and enjoy the rewards of his efforts. In my estimation, it is a most precious thing, and it is indispensable to the liberty and freedom of which America boasts. It is the only tried and tested system of free enterprise in this world and every other opposing system is built on an abridgment of personal liberty. . . .

But we will lose it if we do not understand it and recognize its virtues. It is not the capitalistic system itself that makes some men rich and some men poor. The men themselves do that, again with some exceptions. The system merely offers the opportunities.

Source: Stephen L Richards
Conference Report, Oct. 1939, p. 67]

Topics: Capitalism

Free Markets, Free People

The proper aim of economic life is an over-all aim: the use of limited human and material resources in such a way as to serve most effectively the needs and desires of all the people. This aim tends to be achieved automatically in a regime of free markets where the people’s needs and desires can express themselves in price offers to which producers are forced by economic necessity to conform.

When political authority, even with the best of intentions, interferes with this self-regulating flow of goods and services, it sets up chains of cause and effect which it can neither foresee nor control except by constantly widening its authority. The final outcome is a regimented society from which all objective and valid guides to human effort have vanished, along with human freedom.

Source: The Guaranty Survey, March 1956

Topics: Capitalism; Free Market

There is no western capitalistic country in which the conditions of the masses have not improved in an unprecedented way.

Source: Ludwig von Mises
Epistemological Problems

Topics: Capitalism

Capitalism is essentially a system of mass production for the satisfaction of the needs of the masses. It pours a horn of plenty upon the common man. It has raised the average standard of living to a height never dreamed of in earlier ages. It has made accessible to millions of people enjoyments which a few generations ago were only within the reach of a small elite.

Source: Ludwig von Mises
Anti-Capitalistic Mentality, p.49

Topics: Capitalism

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