This site is dedicated to the memory of Dr. Alan William Smolowe who gave birth to the creation of this database.
Ludwig von Mises, fully Ludwig Heinrich Edler von Mises
A man who chooses between drinking a glass of milk and a glass of a solution of potassium cyanide does not choose between two beverages; he chooses between life and death. A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.
Capitalism | Cooperation | Life | Life | Man | Men | Society | System | Society |
Ludwig von Mises, fully Ludwig Heinrich Edler von Mises
A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.
Capitalism | Cooperation | Men | Society | System | Society |
Ludwig von Mises, fully Ludwig Heinrich Edler von Mises
Liberalism and capitalism address themselves to the cool, well-balanced mind. They proceed by strict logic, eliminating any appeal to the emotions. Socialism, on the contrary, works on the emotions, tries to violate logical considerations by rousing a sense of personal interest and to stifle the voice of reason by awakening primitive instincts.
Awakening | Capitalism | Reason | Sense |
Ludwig von Mises, fully Ludwig Heinrich Edler von Mises
Capitalism and socialism are two distinct patterns of social organization. Private control of the means of production and public control are contradictory notions and not merely contrary notions. There is no such thing as a mixed economy, a system that would stand midway between capitalism and socialism.
Capitalism | Control | Means | Public | System |
Ludwig von Mises, fully Ludwig Heinrich Edler von Mises
For it is an essential difference between capitalist and socialist production that under capitalism men provide for themselves, while under Socialism they are provided for.
Capitalism | Men |
Mark Twain, pen name of Samuel Langhorne Clemens
Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.
Elizabeth Dole, fully Mary Elizabeth Alexander Hanford "Liddy" Dole
I am a firm believer in free but fair trade. However the United States should not be on the losing end of trade agreements that are not enforced. It is time that we make China play fairly.
Max Eastman, fully Max Forrester Eastman
It seems obvious to me now – though I have been slow, I must say, in coming to the conclusion – that the institution of private property is one of the main things that have given man that limited amount of free-and-equalness that Marx hoped to render infinite by abolishing this institution. Strangely enough Marx was the first to see this. He is the one who informed us, looking backwards, that the evolution of private capitalism with its free market had been a precondition for the evolution of all our democratic freedoms. It never occurred to him, looking forward, that if this was so, these other freedoms might disappear with the abolition of the free market.
Capitalism | Enough | Evolution | Man | Property |
Max Weber, formally Maximilian Carl Emil Weber
Since Judaism made Christianity possible and gave it the character of a religion essentially free from magic, it rendered an important service from the point of view of economic history. For the dominance of magic outside the sphere in which Christianity has prevailed in one of the most serious obstructions to the rationalization of economic life. Magic involves a stereotyping of technology and economic relations. When attempts were made in China to inaugurate the building of railroads and factories a conflict with geomancy ensued ... Similar is the relation to capitalism of the castes in India. Every new technical process which an Indian employs signifies for him first of all that he leaves his caste and falls into another, necessarily lower ... An additional fact is that every caste makes every other caste impure. In consequence, workmen who dare not accept a vessel filled with water from each other's hands, cannot be employed together in the same factory room. Obviously, capitalism could not develop in an economic group thus bound hand and foot by magical means.
Capitalism | Character | Important | Magic | Religion | Service | Technology |
Max Weber, formally Maximilian Carl Emil Weber
The impulse to acquisition, pursuit of gain, of money, of the greatest possible amount of money, has in itself nothing to do with capitalism. This impulse exists and has existed among waiters, physicians, coachmen, artists, prostitutes, dishonest officials, soldiers, nobles, crusaders, gamblers, and beggars. One may say that it has been common to all sorts and conditions of men at all times and in all countries of the earth, wherever the objective possibility of it is or has been given. It should be taught in the kindergarten of cultural history that this naïve idea of capitalism must be given up once and for all.
Capitalism | History | Impulse | Men | Nothing |
The essence of capitalism is to turn nature into commodities and commodities into capital. The live green earth is transformed into dead gold bricks, with luxury items for the few and toxic slag heaps for the many. The glittering mansion overlooks a vast sprawl of shanty towns, wherein a desperate, demoralized humanity is kept in line with drugs, television, and armed force.
Ecology's implications for capitalism are too momentous for the capitalist to contemplate. [The plutocrats] are more wedded to their wealth than to the Earth upon which they live, more concerned with the fate of their fortunes than with the fate of humanity. The present ecological crisis has been created by the few at the expense of the many. In other words, the struggle over environmentalism is part of the class struggle itself, a fact that seems to have escaped many environmentalists but is well understood by the plutocrats---which is why they are unsparing in their derision and denunciations of the 'eco-terrorists' and 'tree huggers.'
Capitalism | Earth | Fate | Present | Struggle | Wealth | Fate | Crisis |
The goal of a good society is to structure social relations and institutions so that cooperative and generous impulses are rewarded, while antisocial ones are discouraged. The problem with capitalism is that it best rewards the worst part of us: ruthless, competitive, conniving, opportunistic, acquisitive drives, giving little reward and often much punishment -- or at least much handicap -- to honesty, compassion, fair play, many forms of hard work, love of justice, and a concern for those in need.
Capitalism | Giving | Good | Little | Love | Punishment | Reward | Society | Society |
If you hate your lot but wouldn't trade it, it's not your lot you hate.
Hate |
Milton Friedman, fully John Milton Friedman
Industrial progress, mechanical improvement, all of the great wonders of the modern era have meant relatively little to the wealthy. The rich in Ancient Greece would have benefited hardly at all from modern plumbing : running servants replaced running water. Television and radio? The Patricians of Rome could enjoy the leading musicians and actors in their home, could have the leading actors as domestic retainers. Ready-to-wear clothing, supermarkets - all these and many other modern developments would have added little to their life. The great achievements of Western Capitalism have redounded primarily to the benefit of the ordinary person. These achievements have made available to the masses conveniences and amenities that were previously the exclusive prerogative of the rich and powerful.
Capitalism | Era | Little | Television |
Milton Friedman, fully John Milton Friedman
Complete free trade is not politically feasible. Why? Because it's only in the general interest and in no one's special interest. The benefits of a tariff are visible. [Union workers] can see they are "protected". The harm which a tariff does is invisible. It's spread widely. There are people that don't have jobs because of tariffs but they don't know it.
Milton Friedman, fully John Milton Friedman
It is a striking historical fact that the development of capitalism has been accompanied by a major reduction in the extent to which particular religious, racial, or social groups have operated under special handicaps in respect of their economic activities; have, as the saying goes, been discriminated against. The substitution of contract arrangements for status arrangements was the first step toward the freeing of the serfs in the Middle Ages. The preservation of Jews through the Middle Ages was possible because of the existence of a market sector in which they could operate and maintain themselves despite official persecution. Puritans and Quakers were able to migrate to the New World because they could accumulate the funds to do so in the market despite disabilities imposed on them in other aspects of their life.
Capitalism | Existence | Respect | World | Respect |
Milton Friedman, fully John Milton Friedman
I think a major reason why intellectuals tend to move towards collectivism is that the collectivist answer is a simple one. If there’s something wrong, pass a law and do something about it... The argument has always been made that the trouble with capitalism is that it’s materialistic, while collectivism can afford to pay attention to the nonmaterial. But the experience has been the opposite. There are no societies that have emphasized the purely material requisites of well-being as much as the collectivist…it is in the free societies that there has been a far greater development of the nonmaterial, spiritual, artistic aspects of well-being.
Argument | Attention | Capitalism | Experience | Law | Reason | Trouble | Think |
Milton Friedman, fully John Milton Friedman
The president of the National Education Association was once asked when his union was going to do something about students. He replied that when the students became members of the union, the union would take care of them. And that was a correct answer. Why? His responsibility as president of the NEA was to serve the members of his union, not to serve public purposes. I give him credit: The trade union has been very effective in serving its members. However, in the process, they've destroyed American education. But you see, education isn't the union's function. It's our fault for allowing the union to pursue its agenda. Consider this fact: There are two areas in the United States that suffer from the same disease—education is one and health care is the other. They both suffer from the disease that takes a system that should be bottom-up and converts it into a system that is top-down. Education is a simple case. It isn't the public purpose to build brick schools and have students taught there. The public purpose is to provide education. Think of it this way: If you want to subsidize the production of a product, there are two ways you can do it. You can subsidize the producer or you can subsidize the consumer. In education, we subsidize the producer—the school. If you subsidize the student instead—the consumer—you will have competition. The student could choose the school he attends and that would force schools to improve and to meet the demands of their students.
Association | Care | Disease | Education | Fault | Force | Health | Public | Purpose | Purpose | Responsibility | System | Will | Association | Fault | Think |