“But suppose, for the sake of argument, free competition, without any sort of monopoly, would develop capitalism trade more rapidly. Is it not a fact that the more rapidly trade and capitalism develop, the greater is the concentration of production and capital which gives rise to monopoly?”

— Vladimir Lenin

Source: Imperialism, the highest stage of capitalism: a popular outline

Last update July 22, 2021. History

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Vladimir Lenin 336

Russian politician, led the October Revolution 1870–1924

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“Official science tried, by a conspiracy of silence, to kill the works of Marx, who by a theoretical and historical analysis of capitalism had proved that free competition gives rise to the concentration of production, which, in turn, at a certain stage of development, leads to monopoly.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

Source: Imperialism, the Highest Stage of Capitalism: Full Text of 1916 Edition

“Under the old type of capitalism, when free competition prevailed, the export of goods was the most typical feature. Under modern capitalism, when monopolies prevail, the exporter of capital has become the typical feature.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

Source: Imperialism, The Highest Stage of Capitalism (1917), Chapter Four, "The Export of Capital"

“Power, instrument of the collective force, created in society to serve as mediator between capital and labor, has become inescapably enchained to capital and directed against the proletariat. No political reform can resolve this contradiction, since, according to the avowal of politicians themselves, such a reform could only end by giving more energy and expansion to power, and until it had overthrown the hierarchy and dissolved society, power would not be able to attack the prerogatives of monopoly. The problem consists, then, for the working classes, not in capturing, but in defeating both power and monopoly, which would mean to make rise from the bowels of the people, from the depths of labor, a power greater, an action more powerful which would envelop capital and the State and subjugate them.”

Pierre Joseph Proudhon (1809–1865) French politician, mutualist philosopher, economist, and socialist

Confessions of a Revolutionary (1849)

“Other powers will continue to enjoy an equal right to trade in and develop the natural resources of the occupied territory, for the economic development of which the investment of foreign capital is very desirable.”

Kōki Hirota (1878–1948) Japanese politician executed

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“Imperialism is capitalism in that stage of development in which the domination of monopolies and finance capital has established itself; in which the export of capital has acquired pronounced importance; in which the division of the world among the international trusts has begun; in which the partition of all the territories of the globe among the great capitalist powers has been completed.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

Source: Imperialism, The Highest Stage of Capitalism (1917), Chapter Seven

“Imperialism - the era of bank capital, the era of gigantic capitalist monopolies, the era of the transformation of monopoly capitalism into state-monopoly capitalism - has particularly witnessed an unprecedented strengthening of the "state machine" and an unprecedented growth of its bureaucratic and military apparatus, in connection with the increase in repressive measures against the proletariat in the monarchical as well as in the freest republican countries.”

Vladimir Lenin book The State and Revolution

2.2, Essential Works of Lenin (1966)
The State and Revolution (1917)

“The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money.”

Warren Buffett (1930) American business magnate, investor, and philanthropist

2007 Chairman's Letter http://www.berkshirehathaway.com/letters/2007ltr.pdf
Letters to Shareholders (1957 - 2012)
Context: The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money. Think airlines. Here a durable competitive advantage has proven elusive ever since the days of the Wright Brothers. Indeed, if a farsighted capitalist had been present at Kitty Hawk, he would have done his successors a huge favor by shooting Orville down.

“The history of capitalism has been so totally re-written that many people in the rich world do not perceive the historical double standards involved in recommending free trade and free market to developing countries.”

Ha-Joon Chang book Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism

Prologue, p. 16
Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008)

“Capitalism without competition isn’t capitalism; it’s exploitation.”

Joe Biden (1942) 47th Vice President of the United States (in office from 2009 to 2017)

2021, July 2021, Remarks by President Biden At Signing of An Executive Order Promoting Competition in the American Economy

“It is capitalism, not Marxism, that trades in futures.”

Terry Eagleton (1943) British writer, academic and educator

Source: 2010s, Why Marx Was Right (2011), Chapter 4, p. 65

“But suppose, for the sake of argument, free competition, without any sort of monopoly, would develop capitalism trade more rapidly. Is it not a fact that the more rapidly trade and capitalism develop, the greater is the concentration of production and capital which gives rise to monopoly?”

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Vladimir Lenin 336

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