“To ignore social costs because they require an evaluation by society… and to leave social losses out of account because they are 'external' and 'non-economic' in character, would be equivalent to attributing no or ‘zero’ value to all social damages which is no less arbitrary and subjective a judgement than any positive or negative evaluation of social costs.”

— Karl William Kapp

Source: Social Costs of Business Enterprise, 1963, p. 12. Cited in: M. Rangone & S. Solari (2012) "Southern European capitalism and the social costs of business enterprise". in: Studi e Note di Economia, Anno XVII, n. 1-2012, pp. 3-28

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Karl William Kapp 6

American economist 1910–1976

Karl William Kapp (1910–1976) American economist

“The social damage was not in the failure but in the undertaking, which was expensive. The cost of war was the poison running through the 14th century.”

Barbara W. Tuchman book A Distant Mirror

Source: A Distant Mirror (1978), p. 412

“They (social costs) are damages or diseconomies sustained by the economy in general, which under different institutional conditions could be avoided. [... ] if these costs were inevitable under any kind of institutional arrangement they would not really present a special theoretical problem. [... ] to reveal their origin, the study of social costs must always be an institutional analysis. Such an analysis raises inevitably the question of institutional reform and policy.”

Karl William Kapp (1910–1976) American economist

Source: Social Costs of Business Enterprise, 1963, p. 186 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

“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

“The general loss of memory is not to be explained solely psychologically; it is not simply childhood amnesia. Rather it is social amnesia—memory driven out of mind by the social and economic dynamic of this society.”

Russell Jacoby (1945) American historian

Source: Social Amnesia: A Critique of Conformist Psychology from Adler to Laing (1975), p. 4

“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)