“I think it is only because capitalism has proved so enormously more efficient than alternative methods that it has survived at all. (…) I'm not sure capitalism is the right word. There is a sense in which every society is capitalist. The Soviet Union was capitalist, but it was state capitalism. Latin American societies in the past have been capitalist, but it has been oligarchic capitalism. So what we really need to talk about is not capitalism but free market or competitive capitalism which is the system that we would like to have adopted, not just capitalism.”

— Milton Friedman

Interview with Parker in Randall E. Parker(ed.), Reflection on the Great Depression (2002)

Adopted from Wikiquote. Last update June 3, 2021. History

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Milton Friedman 158

American economist, statistician, and writer 1912–2006

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“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)

“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

“We have just seen that, apart from money-capital, circulating capital is only another name for commodity-capital. But to the extent that labour power circulates in the market, it is not capital, no form of commodity-capital. It is not capital at all; the labourer is not a capitalist, although he brings a commodity to market, namely his own skin.”

Karl Marx book Das Kapital

Source: Das Kapital (Buch II) (1893), Vol. II, Ch. X, p. 211.

“The elimination of individual capitalists and the replacement of private capitalism by state capitalism in Russia has not in the least altered the typical helpless and authoritarian character structure of the masses of people.”

Wilhelm Reich book The Mass Psychology of Fascism

Preface to the Third Edition (August 1942)
The Mass Psychology of Fascism (1933)

“The production of wealth by private enterprise is called Capitalism. It is hard to call Capitalism one of the isms, because Capitalism is not a creed at all. Capitalism was not ‘invented’ by any sociologist or philosopher. Capitalists never called themselves that. The word was invented by socialists to describe what they hated.”

Dorothy Thompson (1893–1961) American journalist and radio broadcaster

Dorothy Thompson’s Political Guide: A Study of American Liberalism and its Relationship to Modern Totalitarian States (1938)
Source: A Study of American Liberalism and its Relationship to Modern Totalitarian States (1938)
p. 25

“Let me examine the alleged "distinction from capitalism" characteristic of the Soviet Union and see whether it isn't a distinction from a certain stage of capitalism rather than from capitalism as a whole. The determining factor in analyzing the class nature of a society is not whether the means of production are the private property of the capitalist class or are state-owned, but whether the means of production … are monopolized and alienated from the direct producers. The Soviet Government occupies in relation to the whole economic system the position which a capitalist occupies in relation to a single enterprise. … "Bureaucratic state socialism" is an irrational expression behind which there exists the real economic relation of state-capitalist-exploiter to the propertyless exploited.”

Raya Dunayevskaya (1910–1987) American philosopher

"The Union of Soviet Socialist Republics is a Capitalist Society" (1941), in Russia: From Proletarian Revolution to State-Capitalist Counter-Revolution (2017), p. 210

“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

“You can tell that the capitalist system is in trouble when people start talking about capitalism.”

Terry Eagleton (1943) British writer, academic and educator

Preface, p. xi
2010s, Why Marx Was Right (2011)

“Capital has been made for man, and not man for Capital.”

David Lloyd George (1863–1945) Former Prime Minister of the United Kingdom

Speech to the Lancashire and Cheshire Federation of the League of Young Liberals in the Free Trade Hall, Manchester (28 April 1923), quoted in The Times (30 April 1923), p. 17
Leader of the National Liberal Party

“The aggregate capital appears as the capital stock of all individual capitalists combined. This joint stock company has in common with many other stock companies that everyone knows what he puts in, but not what he will get out of it.”

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

Vol. II, Ch. XX, p. 437.
(Buch II) (1893)

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Milton Friedman 158

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