“When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done”

Last update June 3, 2021. History

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John Maynard Keynes122

British economist 1883–1946

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“Capitalism is commodity production at the highest stage of development, when labor power itself becomes a commodity. The growth of internal exchange, and particularly of international exchange, is a special feature of capitalism. The uneven and spasmodic character of the development of individual enterprises, of individual branches of industry and individual countries, is inevitable under the capitalist system.”

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

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

“If you have a country with no rule of law, your business (invested in that country) is always like in the casino.”

Matas Maldeikis (1980) Lithuanian statesman

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“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?”

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

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

“The presidency is not an office job. If I only sit in the office in Dar es Salaam I’m not running the country. I visit the country to inspect development programmes, to inspect activities, to see how things are going, how the government agenda is being implemented, what are the teething issues. And some of these problems simply need my simple word. My simple word of do it, then it is done.”

Jakaya Kikwete (1950) Tanzanian politician and president

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“The inflow of capital from the developed countries is the prerequisite for the establishment of economic dependence.”

Ernesto Che Guevara (1928–1967) Argentine Marxist revolutionary

On Development (1964)
Context: The inflow of capital from the developed countries is the prerequisite for the establishment of economic dependence. This inflow takes various forms: loans granted on onerous terms; investments that place a given country in the power of the investors; almost total technological subordination of the dependent country to the developed country; control of a country's foreign trade by the big international monopolies; and in extreme cases, the use of force as an economic weapon in support of the other forms of exploitation.

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

Kenneth E. Boulding (1910–1993) British-American economist

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“Once the means of production have become capital, a certain quantity of value is augmented through the exploitation of labor. And this valorizing value is capital.”

Itsurō Sakisaka (1897–1985) Japanese economist

Exploitation of Labor (1967)