Eric Roll, Baron Roll of Ipsden: System

Eric Roll, Baron Roll of Ipsden was British economist. Explore interesting quotes on system.
Eric Roll, Baron Roll of Ipsden: 48   quotes 0   likes

“The system is shown not to be self-adjusting. Unless a large class of unproductive consumers was maintained, periodic over-production and stagnation would inevitably occur.”

Eric Roll, Baron Roll of Ipsden

Source: A History of Economic Thought (1939), Chapter V, Reaction And Revolution, p. 208
Context: One thing which is striking in Malthus's theory is his insistence on contradictions and conflicts in the capitalist system. The system is shown not to be self-adjusting. Unless a large class of unproductive consumers was maintained, periodic over-production and stagnation would inevitably occur. For the first time, in English economic theory at any rate, the possibility of crises arising from causes inherent in the capitalist system was admitted.

“The whole Marxian system springs from classical political economy as it found expression in Ricardo.”

Eric Roll, Baron Roll of Ipsden

Source: A History of Economic Thought (1939), Chapter IV, The Classical System, p. 193

Spring

“Ricardo, writing fifty years later than Smith, showed a greater insight into the working of the economic system; but as for the subtlety (whatever demerit there may be in that!) the Scot does not lose by comparison with the Jew.”

Eric Roll, Baron Roll of Ipsden

Source: A History of Economic Thought (1939), Chapter IV, The Classical System, p. 176

“Marx's prognosis of the future of the capitalist system has often been understood to imply a fatalistic view. Marx's own life should be enough to show that this is not so. Marx did not regard man as the impotent plaything of supernatural; but he thought that man could not ignore the laws of physical nature.”

Eric Roll, Baron Roll of Ipsden

Source: A History of Economic Thought (1939), Chapter VI, Marx, p. 295

Life , Law , Nature , Future

“Capitalism had been more revolutionary then any previous social system. It had swept away without scruples old institutions and modes of thought, if they were found to stand in its way.”

Eric Roll, Baron Roll of Ipsden

Source: A History of Economic Thought (1939), Chapter V, Reaction And Revolution, p. 231

Way