“We all too often have socialism for the rich and rugged free market capitalism for the poor.”

— Martin Luther King, Jr.

Last update June 3, 2021. History

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Martin Luther King, Jr. 658

American clergyman, activist, and leader in the American Ci… 1929–1968

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“Rich countries have 'kicked away the ladder' by forcing free-market, free-trade policies on poor countries.”

Ha-Joon Chang book Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism

Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 2, Learning the right lessons from history, p. 61
Context: Rich countries have 'kicked away the ladder' by forcing free-market, free-trade policies on poor countries. Already established countries do not want more competitors emerging through the nationalistic policies they themselves successfully used in the past.

“Let's talk about democratic socialism. We are living in many ways in a socialist society right now. The problem is, as Dr. Martin Luther King reminded us, "We have socialism for the very rich, rugged individualism for the poor."”

Bernie Sanders (1941) American politician, senator for Vermont

When Donald Trump gets $800 million in tax breaks and subsidies to build luxury condominiums, that's socialism for the rich. We have to subsidize Walmart’s workers on Medicaid and food stamps because the wealthiest family in America pays starvation wages. That's socialism for the rich. I believe in democratic socialism for working people. Not billionaires. Health care for all. Educational opportunity for all.

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“In the past century a myth has grown up that free market capitalism—equality of opportunity as we have interpreted that term—increases such inequalities, that it is a system under which the rich exploit the poor. Nothing could be further from the truth. Wherever the free market has been permitted to operate, wherever anything approaching equality of opportunity has existed, the ordinary man has been able to attain levels of living never dreamed of before. Nowhere is the gap between rich and poor wider, nowhere are the rich richer and the poor poorer, than in those societies that do not permit the free market to operate.”

Milton Friedman book Free to Choose

Source: Free to Choose (1980), Ch. 5 “Created Equal”, p. 146

“Vulgar libertarian apologists for capitalism use the term "free market" in an equivocal sense: they seem to have trouble remembering, from one moment to the next, whether they’re defending actually existing capitalism or free market principles. … When prodded, they’ll grudgingly admit that the present system is not a free market, and that it includes a lot of state intervention on behalf of the rich. But as soon as they think they can get away with it, they go right back to defending the wealth of existing corporations.”

Kevin Carson (1963) American academic

Studies in Mutualist Political Economy (2007), Chapter 4.
Studies in Mutualist Political Economy (2007)

“Too often the reformer has been one who caused the rich to band themselves against the poor.”

Elbert Hubbard (1856–1915) American writer, publisher, artist, and philosopher fue el escritor del jarron azul

Source: A Thousand & One Epigrams: Selected from the Writings of Elbert Hubbard (1911), p. 14.

“The history of capitalism has been so totally re-written that many people in the rich world do not perceive the historical double standards involved in recommending free trade and free market to developing countries.”

Ha-Joon Chang book Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism

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“Free market capitalism is the best path to prosperity!”

Lawrence Kudlow (1947) American economist

Kudlow's Money Politics blog http://kudlowsmoneypolitics.blogspot.com/2007/09/free-market-hall-of-fame.html, September 14, 2007. (known as the "Kudlow Creed" on the Kudlow & Company show)

“Poor and free rather than rich and enslaved. Of course, men want to be both rich and free, and this is what leads them at times to be poor and enslaved.”

Albert Camus (1913–1960) French author and journalist

Pauvre et libre plutôt que riche et asservi. Bien entendu les hommes veulent être et riches et libres et c’est ce qui les conduit quelquefois à être pauvres et esclaves.
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“The historical debate is over. The answer is free-market capitalism.”

Thomas Friedman book The Lexus and the Olive Tree

[The Lexus and the Olive Tree: Understanding Globalization, 1st edition, May 2, 2000, Anchor, ISBN 0-3854-9934-5, The Golden Straitjacket]

“People on all levels of income are better off than they were in 1979. The hon. Gentleman is saying that he would rather that the poor were poorer, provided that the rich were less rich. That way one will never create the wealth for better social services. as we have. What a policy. Yes, he would rather have the poor poorer, provided that the rich were less rich. That is the Liberal policy.”

Margaret Thatcher (1925–2013) British stateswoman and politician

From her last House of Commons speech (22 November 1990) http://www.margaretthatcher.org/document/108256; response to M.P. Simon Hughes
Third term as Prime Minister

“We all too often have socialism for the rich and rugged free market capitalism for the poor.”

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Martin Luther King, Jr. 658

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