Walter Rodney: Capitalism

Walter Rodney was Guyanese politician, activist and historian. Explore interesting quotes on capitalism.
Walter Rodney: 100   quotes 4   likes

“Fascism is a deformity of capitalism.”

Walter Rodney book How Europe Underdeveloped Africa

Source: How Europe Underdeveloped Africa (1972), p. 310.
Context: Fascism is a deformity of capitalism. It heightens the imperialist tendency towards domination which is inherent in capitalism, and it safeguards the principle of private property. At the same time, fascism immeasurably strengthens the institutional racism already bred by capitalism, whether it be against Jews (as in Hitler’s case) or against African peoples (as in the ideology of Portugal’s Salazar and the leaders of South Africa). Fascism reverses the political gains of the bourgeois democratic system such as free elections, equality before the law, parliaments; and it also extolls authoritarianism and the reactionary union of the church with the state. In Portugal and Spain, it was the Catholic church—in South Africa, it was the Dutch Reformed church.

“Like its progenitor, capitalism, fascism is totally opposed to socialism. Fascist Germany and Italy attacked both the other capitalist states and the Soviet Union, which was still the only socialist state in the world by 1939. The defeat of fascism was therefore a victory for socialism, and at the same time it preserved the other capitalist nations from having to take the historically retrograde step of fascism.”

Walter Rodney book How Europe Underdeveloped Africa

Source: How Europe Underdeveloped Africa (1972), p. 310.

World , Time , Victory

“To put it another way, the social (class) relations of capitalism are now outmoded, just as slave and feudal relations became outmoded in their time.”

Walter Rodney book How Europe Underdeveloped Africa

Source: How Europe Underdeveloped Africa (1972), p. 18.
Context: However, the peasants and workers of Europe (and eventually the inhabitants of the whole world) paid a huge price so that the capitalists could make their profits from the human labor that always lies behind the machines. That contradicts other facets of development, especially viewed from the standpoint of those who suffered and still suffer to make capitalist achievements possible. This latter group are the majority of mankind. To advance, they must overthrow capitalism; and that is why at the moment capitalism stands in the path of further human social development. To put it another way, the social (class) relations of capitalism are now outmoded, just as slave and feudal relations became outmoded in their time.

Way , Time

“In speaking of the European slave trade, mention must be made of the U. S. A., not only because its dominant population was European but also because Europe transferred its capitalist institutions more completely to North America than to any other part of the globe, and established a powerful form of capitalism—after eliminating the indigenous inhabitants and exploiting the labor of millions of Africans.”

Walter Rodney book How Europe Underdeveloped Africa

Source: How Europe Underdeveloped Africa (1972), p. 134.

Parting

“The Arabs had acquired Africans as slaves for centuries, but they were exploited in a feudal context. African slaves in Arab hands became domestics, soldiers, and agricultural serfs. Whatever surplus they produced was not for reinvestment and multiplication of capital, as in the West Indian or North American slave systems but for consumption by the feudal elite. Indeed, slaves were often maintained more for social prestige than for economic benefit.”

Walter Rodney book How Europe Underdeveloped Africa

Source: How Europe Underdeveloped Africa (1972), p. 225.

“Slavery is useful for early accumulation of capital, but it is too rigid for industrial development. Slaves had to be given crude non-breakable tools which held back the capitalist development of agriculture and industry. That explains the fact that the northern portions of the U. S. A. gained far more industrial benefits from slavery than the South, which actually had slave institutions on its soil; and ultimately the stage was reached during the American Civil War when the Northern capitalists fought to end slavery within the boundaries of the U. S. A. so that the country as a whole could advance to a higher level of capitalism.”

Walter Rodney book How Europe Underdeveloped Africa

Source: How Europe Underdeveloped Africa (1972), p. 136.

War , Country

“Capitalism has created its own irrationalities such as a vicious white racism, the tremendous waste associated with advertising, and the irrationality of incredible poverty in the midst of wealth and wastage even inside the biggest capitalist economies, such as that of the United States of America.”

Walter Rodney book How Europe Underdeveloped Africa

Source: How Europe Underdeveloped Africa (1972), p. 19.

Wealth

“The principal contradiction within capitalism from the outset was that between the capitalists and the workers. To keep their system going, the capitalists had constantly to step up the rate of exploitation of their workers. At the same time, European workers were gaining increasing mastery over the means of production in the factories and mines, and they were learning to work collectively in big enterprises and within their own trade union structures. If the bourgeoisie continued to deprive them of the major part of the fruits of their own labor and to oppress them socially and politically, then those two classes were set on a collision path. Ever since the mid-nineteenth century, Marx had predicted class collision would come in the form of revolution in which workers would emerge victorious. The capitalists were terribly afraid of that possibility, knowing full well that they themselves had seized power from the feudal landlord class by means of revolution.”

Walter Rodney book How Europe Underdeveloped Africa

Source: How Europe Underdeveloped Africa (1972), p. 314.

Learning , Time , Victory , Parting

“That is a profound revelation of the difference between capitalist and pre-capitalist societies; and when capitalism came into contact with the still largely communal African societies, it introduced money relations at the expense of kinship ties.”

Walter Rodney book How Europe Underdeveloped Africa

Source: How Europe Underdeveloped Africa (1972), p. 338.

Money , Communication

“Gold is required in large quantities only in a society which produces a very large economic surplus and can afford to transform part of that surplus into gold for prestige purposes (as in India) or into coinage and money to promote capitalism”

Walter Rodney book How Europe Underdeveloped Africa

as in Western Europe
Source: How Europe Underdeveloped Africa (1972), p. 106.

Money , Parting