„But suppose, for the sake of argument, free competition, without any sort of monopoly, would develop capitalism trade more rapidly. Is it not a fact that the more rapidly trade and capitalism develop, the greater is the concentration of production and capital which gives rise to monopoly?“

Source: Imperialism, the highest stage of capitalism: a popular outline

Last update July 22, 2021. History
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Vladimir Lenin335
Russian politician, led the October Revolution 1870 - 1924

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Vladimir Lenin photo
Vladimir Lenin photo

„Under the old type of capitalism, when free competition prevailed, the export of goods was the most typical feature. Under modern capitalism, when monopolies prevail, the exporter of capital has become the typical feature.“

—  Vladimir Lenin Russian politician, led the October Revolution 1870 - 1924

Source: Imperialism, The Highest Stage of Capitalism (1917), Chapter Four, "The Export of Capital"

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Terry Eagleton photo

„It is capitalism, not Marxism, that trades in futures.“

—  Terry Eagleton British writer, academic and educator 1943

Source: 2010s, Why Marx Was Right (2011), Chapter 4, p. 65

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„The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money.“

—  Warren Buffett American business magnate, investor, and philanthropist 1930

2007 Chairman's Letter http://www.berkshirehathaway.com/letters/2007ltr.pdf
Letters to Shareholders (1957 - 2012)
Context: The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money. Think airlines. Here a durable competitive advantage has proven elusive ever since the days of the Wright Brothers. Indeed, if a farsighted capitalist had been present at Kitty Hawk, he would have done his successors a huge favor by shooting Orville down.

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David McNally photo

„What was it, then, about the development of capitalism that gave rise to modern racial ideology?“

—  David McNally Canadian political scientist 1953

Source: Another World Is Possible : Globalization and Anti-capitalism (2002), Chapter 4, The Colour Of Money, p. 112

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„The development of fixed capital indicates in still another respect the degree of development of wealth generally, or of capital…“

—  Karl Marx, book Grundrisse

Notebook VII, The Chapter on Capital, pp. 628–629.
Grundrisse (1857/58)
Context: The development of fixed capital indicates in still another respect the degree of development of wealth generally, or of capital…
The creation of a large quantity of disposable time apart from necessary labour time for society generally and each of its members (i. e. room for the development of the individuals’ full productive forces, hence those of society also), this creation of not-labour time appears in the stage of capital, as of all earlier ones, as not-labour time, free time, for a few. What capital adds is that it increases the surplus labour time of the mass by all the means of art and science, because its wealth consists directly in the appropriation of surplus labour time; since value directly its purpose, not use value. It is thus, despite itself, instrumental in creating the means of social disposable time, in order to reduce labour time for the whole society to a diminishing minimum, and thus to free everyone’s time for their own development. But its tendency always, on the one side, to create disposable time, on the other, to convert it into surplus labour...
The mass of workers must themselves appropriate their own surplus labour. Once they have done so – and disposable time thereby ceases to have an antithetical existence – then, on one side, necessary labour time will be measured by the needs of the social individual, and, on the other, the development of the power of social production will grow so rapidly that, even though production is now calculated for the wealth of all, disposable time will grow for all. For real wealth is the developed productive power of all individuals. The measure of wealth is then not any longer, in any way, labour time, but rather disposable time. Labour time as the measure of value posits wealth itself as founded on poverty, and disposable time as existing in and because of the antithesis to surplus labour time; or, the positing of an individual’s entire time as labour time, and his degradation therefore to mere worker, subsumption under labour. The most developed machinery thus forces the worker to work longer than the savage does, or than he himself did with the simplest, crudest tools.

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Terry Eagleton photo

„Capitalism cannot survive without a working class, while the working class can flourish a lot more freely without capitalism.“

—  Terry Eagleton British writer, academic and educator 1943

Source: 2010s, Why Marx Was Right (2011), Chapter 7, p. 177

Ha-Joon Chang photo

„Trade is simply too important for economic development to be left to free trade economists.“

—  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. 3, More trade, fewer ideologies, p. 83
Context: The importance of international trade for economic development cannot be overemphasized. But free trade is not the best path to economic development. Trade helps economic development only when the country employs a mixture of protection and open trade, constantly adjusting it according to its changing needs and capabilities. Trade is simply too important for economic development to be left to free trade economists.

„Production functions involving only land, labor and capital… never work and never explain economic development.“

—  Kenneth E. Boulding British-American economist 1910 - 1993

Kenneth Boulding (1990). "Taxonomy as a Source of Error." in Methodus Vol 2. p. 17-21, as cited in: Deirdre McCloskey (2013) " What Boulding Said Went Wrong with Economics, A Quarter Century On http://www.deirdremccloskey.com/editorials/boulding.php"
1990s and attributed

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