“Capitalism must be regarded as an economy of unpaid costs, ‘unpaid’ in so far as a substantial portion of the actual costs of production remains unaccounted for in entrepreneurial outlays; instead they are shifted to, and ultimately borne by, third persons or by the community as a whole.”

— Karl William Kapp

Source: Social Costs of Business Enterprise, 1963, p. 231. Cited in: Rania Ghosn (2012) "Where are the Missing Spaces? The Geography of some Uncommon Interests" in the Yale Architectural Journal Perspecta. Perspecta 45.

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Karl William Kapp 6

American economist 1910–1976

Sujit Choudhry (1970) lawyer

"Sujit Choudhry – Founding Director of the Center for Constitutional Transitions" https://ideamensch.com/sujit-choudhry/, IdeaMensch (March 9, 2017)

“The natural effect of unfettered market competition is socialism. For a short time the innovator receives a large profit, as a reward for being first to the market. Then, as competitors adopt the innovation, competition drives these profits down to zero and the price gravitates toward the new, lower cost of production made possible by this innovation (that price including, of course, the cost of the producer’s maintenance and the amortization of her capital outlays). So in a free market, the cost savings in labor required to produce any given commodity would quickly be socialized in the form of reduced labor cost to purchase it.”

Kevin Carson (1963) American academic

"Who Owns the Benefit? The Free Market as Full Communism" https://theanarchistlibrary.org/library/kevin-carson-who-owns-the-benefit-the-free-market-as-full-communism (2012)

“So whenever the tug of populism tempts us to pass measures without regard of their fiscal cost, he is there to ask us if those who will ultimately foot the bill can actually afford it.”

Francis Escudero (1969) Filipino politician

2013, Speech: Nomination of Senator Ralph Recto as Senate Pro Tempore

“Whenever social costs are shifted onto economically and politically weaker sections of society without compensation, a redistribution of the costs of production, hence real income is involved.”

Karl William Kapp (1910–1976) American economist

Knapp, 1972 cited in: Sebastian Berger and Mathew Forstater (2007) "Toward a Political Institutionalist Economics: Kapp’s Social Costs, Lowe’s Instrumental Analysis, and the European Institutionalist Approach to Environmental Policy". In: Journal of Economic Issues. Vol.XLI, No.2, June 2007. p. 539

“Executives must have a practical knowledge of how to observe, record, analyze and compare essential facts in relation to… all… that enters into or affects the economy of production, the costs of the product.”

Henry R. Towne (1844–1924) American engineer

Attributed to Henry R. Towne in: William Kent (1914) Investigating an Industry: A Scientific Diagnosis of the Diseases of Management, p. 3
Comment: William Kent mentions the "The Engineer as an Economist," (1886) as the source.

“An economy based on information, with its tendency to zero-cost products and weak property rights, cannot be a capitalist economy.”

Paul Mason (journalist) book PostCapitalism: A Guide to our Future

PostCapitalism: A Guide to our Future (2015)

“Increase on productivity and decrease in unit costs (often identified with economies of scale) resulted far more from the increases in the volume and velocity of throughput then from a growth in the size of the factory and plant.”

Alfred D. Chandler, Jr. (1918–2007) American historian

Source: The Visible Hand (1977), p. 281; Cited in: Best (1990, p. 48).

“The H-1B visa racket is, however, a taxpayer-subsidized, grant of government privilege. Duly, profits remain private property. The costs of accommodating an annual human influx are socialized, borne by the bewildered community.”

Ilana Mercer South African writer

“ Why Tax Breaks Won’t Stop High-Tech, H-1B Human Trafficking https://constitution.com/tax-breaks-wont-stop-high-tech-h-1b-human-trafficking/,” Constitution.com, November 16, 2017.”
2010s, 2017

“In America, despite the amazing rise in productivity we’ve had in the last 30 years, real wages have actually gone down. All of the increase in productivity has been taken by the finance, insurance, and real estate sector, called the FIRE sector, almost all of it by the financial sector. … So instead of having industrial capitalism a century ago, we have a finance capitalism that actually is stifling industrial capitalism here. So what Alan Greenspan and others call the postindustrial economy is really neo-feudalism. It’s a financialized economy where all of the surplus goes to the banks.”

Michael Hudson (economist) (1939) American economist

Deficit Hawks One Two Punch http://michael-hudson.com/2010/12/deficit-hawks-one-two-punch/ (December 16, 2010)
Michael-Hudson.com, 1998-

“The so-called free market does not provide consumers with proper information, because the social and environmental costs of production are not part of the current economic models…. an ecological tax reform would be strictly revenue neutral, shifting the tax burden from income taxes to "eco-taxes." …the taxes would be added to existing products, forms of energy, services, and materials, so that prices would better reflect true costs.”

Fritjof Capra (1939) American physicist

Epilogue: Ecological Literacy
The Web of Life (1996)

“Capitalism must be regarded as an economy of unpaid costs, ‘unpaid’ in so far as a substantial portion of the actual costs of production remains unaccounted for in entrepreneurial outlays; instead they are shifted to, and ultimately borne by, third persons or by the community as a whole.”

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