“When all capital, all production, all exchange have been brought together in the hands of the nation, private property will disappear of its own accord, money will become superfluous, and production will so expand and man so change that society will be able to slough off whatever of its old economic habits may remain.”

— Friedrich Engels

(1847)

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Friedrich Engels 87

German social scientist, author, political theorist, and ph… 1820–1895

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“What will be the consequences of the ultimate disappearance of private property? Society will take all forces of production and means of commerce, as well as the exchange and distribution of products, out of the hands of private capitalists and will manage them in accordance with a plan based on the availability of resources and the needs of the whole society. In this way, most important of all, the evil consequences which are now associated with the conduct of big industry will be abolished. There will be no more crises; the expanded production, which for the present order of society is overproduction and hence a prevailing cause of misery, will then be insufficient and in need of being expanded much further. Instead of generating misery, overproduction will reach beyond the elementary requirements of society to assure the satisfaction of the needs of all; it will create new needs and, at the same time, the means of satisfying them. It will become the condition of, and the stimulus to, new progress, which will no longer throw the whole social order into confusion, as progress has always done in the past.”

Friedrich Engels book Principles of Communism

Principles of Communism (1847)

“The proletarian works with the instruments of production of another, for the account of this other, in exchange for a part of the product. … The proletarian liberates himself by abolishing competition, private property, and all class differences.”

Friedrich Engels book Principles of Communism

Principles of Communism (1847)

“Once the first radical attack on private property has been launched, the proletariat will find itself forced to go ever further, to concentrate increasingly in the hands of the state all capital, all agriculture, all transport, all trade. All the foregoing measures are directed to this end; and they will become practicable and feasible, capable of producing their centralizing effects to precisely the degree that the proletariat, through its labor, multiplies the country’s productive forces.”

Friedrich Engels (1820–1895) German social scientist, author, political theorist, and philosopher

(1847)

“Since the management of industry by individuals necessarily implies private property, and since competition is in reality merely the manner and form in which the control of industry by private property owners expresses itself, it follows that private property cannot be separated from competition and the individual management of industry. Private property must, therefore, be abolished and in its place must come the common utilization of all instruments of production and the distribution of all products according to common agreement – in a word, what is called the communal ownership of goods.”

Friedrich Engels book Principles of Communism

Principles of Communism (1847)

“Capitalism in its imperialist stage arrives at the threshold of the most complete socialization of production. In spite of themselves the capitalists are dragged, as it were, into the new social order, which marks the transition from complete free competition to complete socialization. Production becomes social, but appropriation remains private. The social means of production remain the private property of a few. The framework of formally recognized free competition remains, but the yoke of a few monopolists on the rest of the population becomes a hundred times heavier, more burdensome and intolerable.”

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

Source: Imperialism, The Highest Stage of Capitalism (1917), Chapter One
Source: Imperialism, the Highest Stage of Capitalism: Full Text of 1916 Edition

“Economic logic requires that we maximize the productivity of the limiting factor in the short run, and invest in increasing its supply in the long run. When the limiting factor changes, then behavior that used to be economic becomes uneconomic. Economic logic remains the same, but the pattern of scarcity in the world changes, with the result that behavior must change if it is to remain economic. Instead of maximizing returns to and investing in man-made capital (as was appropriate in an empty world), we must now maximize returns to and invest in natural capital (as is appropriate in a full world). This is not “new economics,” but new behavior consistent with “old economics” in a world with a new pattern of scarcity.”

Herman E. Daly (1938) American economist

Herman E. Daly (1994) in: AnnMari Jansson. Investing in Natural Capital: The Ecological Economics Approach To Sustainability. 1994. p. 24

“The origin of all constitutional rights, according to Lincoln, was the right that a man had to own himself, and therefore to own the product of his own labor. Government exists to protect that right, and to regulate property only to make it more valuable to its possessors”

Harry V. Jaffa (1918–2015) American historian and collegiate professor

1990s, The Party of Lincoln vs. The Party of Bureaucrats (1996)
Context: Bob Dole and Jack Kemp declared that the Republican Party is the party of Lincoln. But just what is the connection between the Republican Party of 1860 and that of 1996? The essence of slavery, Lincoln said, was expressed in the proposition: "You work; I'll eat." Upon his election as president, he was besieged by office seekers who drove him to distraction. Lincoln was blunt in his judgment of the great majority of them. They wanted to eat without working. Lincoln saw the demand for the protection of slavery and the demand for government sinecures to be at bottom one and the same. The origin of all constitutional rights, according to Lincoln, was the right that a man had to own himself, and therefore to own the product of his own labor. Government exists to protect that right, and to regulate property only to make it more valuable to its possessors.

“We are now approaching a social revolution, in which the old economic foundations of monogamy will disappear just as surely as those of its complement, prostitution. Monogamy arose through the concentration of considerable wealth in one hand — a man's hand — and from the endeavor to bequeath this wealth to the children of this man to the exclusion of all others. This necessitated monogamy on the woman's, but not on the man's part. Hence this monogamy of women in no way hindered open or secret polygamy of men. Now, the impending social revolution will reduce this whole care of inheritance to a minimum by changing at least the overwhelming part of permanent and inheritable wealth—the means of production—into social property. Since monogamy was caused by economic conditions, will it disappear when these causes are abolished?
One might reply, not without reason: not only will it not disappear, but it will rather be perfectly realized. For with the transformation of the means of production into collective property, wagelabor will also disappear, and with it the proletariat and the necessity for a certain, statistically ascertainable number of women to surrender for money. Prostitution disappears and monogamy, instead of going out of existence, at last becomes a reality—for men also.
At all events, the situation will be very much changed for men. But also that of women, and of all women, will be considerably altered. With the transformation of the means of production into collective property the monogamous family ceases to be the economic unit of society. The private household changes to a social industry. The care and education of children become? a public matter. Society cares equally well for all children, legal or illegal. This removes the care about the "consequences" which now forms the essential social factor—moral and economic—hindering a girl to surrender unconditionally to the beloved man. Will not this be sufficient cause for a gradual rise of a more unconventional intercourse of the sexes and a more lenient public opinion regarding virgin honor and female shame? And finally, did we not see that in the modern world monogamy and prostitution, though antitheses, are inseparable and poles of the same social condition? Can prostitution disappear without engulfing at the same time monogamy?”

Friedrich Engels (1820–1895) German social scientist, author, political theorist, and philosopher

The Origin of the Family, Private Property and the State (1804) as translated by Ernest Untermann (1902); Full English text of The Origin of the Family, Private Property and the State http://www.marxists.org/archive/marx/works/1884/origin-family/index.htm - Full original-language German text of The Origin of the Family, Private Property and the State http://www.mlwerke.de/me/me21/me21_025.htm

“Money as a medium of exchange becomes important when workers are paid in medium of exchange rather than in wage goods directly. Since wage goods constitute the majority of goods produced (particularly in the early stages of development), it is tempting (but misleading) to focus on exchanges and on money as a medium of exchange [like the neo-classicals]. Once capitalist production dominates the economy, money becomes universally important: money operates as a medium of exchange and money hoards provide a measure of security. However, production involves goods and services now in exchange for a promise to pay in the future. That is, money is involved in the production process because production is time-based and involves debt commitments. If one only focuses on the use of money in exchange or as a store of value, one ignores how money creation is inextricably related to time-based production in private property economies.”

L. Randall Wray (1953) American economist

Source: Money and Credit in Capitalist Economies, 1990, p. 10; Cited in Howard Stein. "Theories of institutions and economic reform in Africa." World Development 22.12 (1994): 1833-1849.

“In fact, it would be very easy to ‘prove’ Marx’s analysis to have been wrong, if experience had shown, for example, that the more capitalist industry develops, the smaller and smaller the average factory becomes, the less it depends upon new technology, the more its capital is supplied by the workers themselves, the more workers become owners of their factories, the less the part of wages taken by consumer goods becomes (and the greater becomes the part of wages used for buying the workers’ own means of production). If, in addition, there had been decades without economic fluctuations and a full-scale disappearance of trade unions and employers’ associations (all flowing from the disappearance of contradictions between Capital and Labour, inasmuch as workers increasingly become the controllers of their own means and conditions of production), then one could indeed say that Capital was so much rubbish and had dismally failed to predict what would happen in the real capitalist world a century after its publication.”

Ernest Mandel (1923–1995) Belgian economist and Marxist philosopher

Introduction to Capital. Introduction to volume 1 (1976)

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