“In its beginnings, the credit system sneaks in as a modest helper of accumulation and draws by invisible threads the money resources scattered all over the surface of society into the hands of individual or associated capitalists. But soon it becomes a new and formidable weapon in the competitive struggle, and finally it transforms itself into an immense social mechanism for the centralisation of capitals.”

Vol. I, Ch. 25, Section 2, pg. 687.
(Buch I) (1867)

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Karl Marx290

German philosopher, economist, sociologist, journalist and … 1818–1883

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“Money is the great weapon in a free, equal and competitive society, which skill and capital employ in the war of the wits, to exploitate and oppress the poor, the improvident, and the weak-minded. Its evil effects are greatly aggravated by the credit and banking systems.”

George Fitzhugh (1806–1881) American activist

Source: Cannibals All!, or Slaves Without Masters (1857), p. 303

“We must now try to sum up, to draw together the threads of what has been said above on the subject of imperialism. Imperialism emerged as the development and direct continuation of the fundamental characteristics of capitalism in general. But capitalism only became capitalist imperialism at a definite and very high stage of its development, when certain of its fundamental characteristics began to change into their opposites, when the features of the epoch of transition from capitalism to a higher social and economic system had taken shape and revealed themselves in all spheres. Economically, the main thing in this process is the displacement of capitalist free competition by capitalist monopoly.”

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

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

“As the thought comes to me to exorcise and transform this black with a white drawing, it has already become a surface... Now I have lost all fear, and begin to draw on the black surface.”

Hans Arp (1886–1966) Alsatian, sculptor, painter, poet and abstract artist

Hans Arp's quote on drawing on the black surface; as quoted in Search for the Real, Hans Hofmann, Addison Gallery of modern Art, 1948
1940s

“But simultaneously with the development of capitalist production the credit system also develops. The money-capital which the capitalist cannot as yet employ in his own business is employed by others, who pay him interest for its use.”

Karl Marx (1818–1883) German philosopher, economist, sociologist, journalist and revolutionary socialist

Vol. II, Ch. XVII, p. 325.
(Buch II) (1893)

“The core of the Marxist critique of capitalism is that although the individual capitalist is rational (as liberals assume), the capitalist system itself is irrational.”

Robert Gilpin (1930–2018) Political scientist

Source: The Political Economy of International Relations (1987), Chapter Two, Three Ideologies Of Political Economy, p. 37

“Capitalism subordinates men to machines instead of using machines to liberate men from the burden of mechanical and repetitive work. it subordinates all social activities to the imperatives of an incessant drive for individual enrichment in terms of money, instead of gearing social life to the development of rich individualities and their social relations. The contradiction between use-value and exchange-value, inherent in every commodity, fully unfolds itself in this contradictory nature of capitalist machinery. When capitalism is not overthrown once it has created the material and social preconditions for a classless society of associated producers, this contradiction implies the possibility of a steadily increasing transformation of the forces of production into forces of destruction, in the most literal sense of the word: not only forces of destruction of wealth (crises and wars), of human wealth and human happiness, but also forces of destruction of life tout court.”

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

Introduction to Capital. Introduction to volume 1 (1976)

“For two hundred and fifty years, from the second half of the eighteenth Century on, Capitalism was the dominant social reality. For the last Hundred years, Marxism was the dominant social ideology. Both are rapidly being superseded by a new and very different society. The new society – and it is already here – is a post-capitalist society… The center of gravity in the post-capitalist society – its structure, its social and economic dynamics, its social classes, and its social problems – is very different from the one that dominated the last two hundred and fifty years”

Henry Mintzberg (1939) Canadian busines theorist

Drucker (1993) Guru Guide. p. 293-294 as cited in: Nancy Campbell (2004) "The Practice of Management and the Idea of Leadership: An Overview of Theory and Practice"

“The introduction of free competition is thus public declaration that from now on the members of society are unequal only to the extent that their capitals are unequal, that capital is the decisive power, and that therefore the capitalists, the bourgeoisie, have become the first class in society. Free competition is necessary for the establishment of big industry, because it is the only condition of society in which big industry can make its way.”

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

(1847)

“Capital, explaining the origins of the capitalist mode of production, points towards the inevitable historical decline and fall of this same social system. An economic theory based upon the historical relativity of every economic system, its strict limitation in time, tactlessly reminds Messrs the capitalists, their hangers-on and their apologists that capitalism itself is a product of history. It will perish in due course as it once was born. A new social form of economic organization will then take the place of the capitalist one: it will function according to other laws than those which govern the capitalist economy.”

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

Introduction to Capital. Introduction to volume 1 (1976)

“The transformation of numerous intermediaries into a handful of monopolists represents one of the fundamental processes in the transformation of capitalism into capitalist imperialism.”

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

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

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