“By capitalist, I mean the investor who puts his money into a concern and draws profits there from without participating in the organisation or management of the business. Were all these to disappear in the night, leaving no trace behind, nothing would be changed.”

—  Keir Hardie

Source: From Serfdom to Socialism (1907), p. 11

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

Help us to complete the source, original and additional information

Do you have more details about the quote "By capitalist, I mean the investor who puts his money into a concern and draws profits there from without participating…" by Keir Hardie?
Keir Hardie photo
Keir Hardie 14
Scottish socialist and labour leader 1856–1915

Related quotes

Mary Parker Follett photo

“Another reason is because industry is the most important field of human activity, and management is the fundamental element in industry. It is now generally recognized that not bankers, not stockholders, but management is the pivot of business success. It is good management that draws credit, that draws workers, that draws customers. Moreover, whatever changes should come, whether industry is owned by individual capitalists, or by the State, or by the workers, it will always have to be managed. Management is a permanent function of business.”

Mary Parker Follett (1868–1933) American academic

Source: Dynamic administration, 1942, p. xx

Michael Swanwick photo

“Money can always be traced. It leaves a trail of slime behind it wherever it goes.”

Michael Swanwick book Stations of the Tide

Source: Stations of the Tide (1991), Chapter 2, “Witch Cults of Whitemarsh” (p. 26)

“With joint-stock corporations, investors can place bets on the success of many different companies, without having to play a central management role in any one of them. This allows investors to diversify their financial holdings. It also allows them to capture profits on their investments, without having to get involved in the dirty, troublesome business of actually running a company.”

Jim Stanford (1961) Canadian economist

Part 2, Chapter 7, Companies, Owners, and Profit, p. 91
Economics For Everyone (2008)

John Updike photo

“…they were nobodies in the county, they would leave nothing behind but their headstones.”

John Updike book Rabbit Remembered

Rabbit Remembered (2000)

Arsène Wenger photo

“What is unbelievable is that I am in a position where people reproach me for making a profit. The people who lose money – nobody says a word. Reproach the people who lose money. I do business by managing in a safe way in a healthy way and on top of that you reproach me for making money. It looks like we are in a business where the quality is to lose money.”

Arsène Wenger (1949) French footballer and manager

(2010) http://www.independent.co.uk/sport/football/premier-league/wenger-hopes-record-profits-prove-his-wisdom-2089020.html
Arsenal (1996–present)

André Breton photo

“The clouds were disappearing rapidly, leaving the stars to die. The night dried up.”

André Breton (1896–1966) French writer

Source: The Magnetic Fields

Matsushita Konosuke photo

“I underlined my conviction that running a business and managing an enterprise were not merely a private concern but a public endeavor.”

Matsushita Konosuke (1894–1989) Japanese businessman

Source: Quest for prosperity: the life of a Japanese industrialist. 1988, p. 232

Richard Rumelt photo

“Some of the biggest changes have been in the process of generating business strategies—what I call “strategy work.” Around 1980, the received wisdom was to decentralize into business units, which would each generate a strategic plan. These plans were then amalgamated up the hierarchy, in some portfolio way, for senior management. That approach has all but disappeared, and we’ve seen a dramatic recentralization of strategy work.”

Richard Rumelt (1942) American economist

Response to the question: "You’ve been teaching about, researching, and consulting on business and corporate strategy for 35 years. What changes have you seen in that time?"
"McKinsey Quarterly interview," 2007

Robert Silverberg photo

“May I be struck dead for saying this if I don’t mean it with all my heart: I wish the Lord and all his prophets would disappear and leave us alone. We’ve had enough religion for one season.”

Robert Silverberg (1935) American speculative fiction writer and editor

Source: Short fiction, Thomas the Proclaimer (1972), Chapter 11, “The March to the Sea” (p. 110)

“The profit motive should not be confused with the profit system. By the profit system, of course, we mean the institution of private property in capital goods and the free private enterprise that goes along with it. There is no reason why the "profit motive" should be necessarily connected with the profit system. In a profit system there is nothing to prevent anyone acting on altruistic lines; there is no law that says a businessman must maximize his profits. If a businessman chose to operate with outputs, prices, and wages that yielded him a smaller profit than the maximum, but which he felt were socially more desirable, there is nothing in the profit system that would prevent him from doing this. Nothing in the profit system would prevent the most ardent liberal from refusing an increase in wages, or from accepting an unpleasant and poorly paid job. At the other extreme, there is nothing in a communist system that would do away with the profit motive, or the "advantage motive."”

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

Source: 1940s, The Economics of Peace, 1945, p. 239

Related topics