“The vast individual and corporate fortunes, the vast combinations of capital which have marked the development of our industrial system, create new conditions, and necessitate a change from the old attitude of state and the nation toward property.”

1900s, Speak softly and carry a big stick (1901)

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Theodore Roosevelt445

American politician, 26th president of the United States 1858–1919

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“Property rights develop to internalize externalities when the gains of internalization become larger than the cost of internalization. Increased internalization, in the main, results from changes in economic values, changes which stem from the development of new technology and the opening of new markets, changes to which old property rights are poorly attuned [G]iven a community's tastes… [for private versus state ownership], the emergence of new private or state-owned property rights will be in response to changes in technology and relative prices.”

Harold Demsetz (1930–2019) American economist

Harold Demsetz, (1967). "Toward a Theory of Property Rights." American Economic Review 57 (May, No. 2): 347-359. p. 350, as cited in Eggertsson (1990; 250)

“Every change in the social order, every revolution in property relations, is the necessary consequence of the creation of new forces of production which no longer fit into the old property relations. Private property has not always existed. When, towards the end of the Middle Ages, there arose a new mode of production which could not be carried on under the then existing feudal and guild forms of property, this manufacture, which had outgrown the old property relations, created a new property form, private property. And for manufacture and the earliest stage of development of big industry, private property was the only possible property form; the social order based on it was the only possible social order.”

Friedrich Engels (1820–1895) German social scientist, author, political theorist, and philosopher

(1847)

“All these problems constantly come in the work of political and social development. But they stand for a vast progression toward better conditions, a better society, a better economic system. In approaching them, we need to have in mind the Federalist's analysis of our constitutional system: — The powers delegated to the Federal Government are few and defined; those to remain in the hands of the State government are numerous and indefinite.”

Calvin Coolidge (1872–1933) American politician, 30th president of the United States (in office from 1923 to 1929)

1920s, The Reign of Law (1925)

“Nowhere in the world of business at the present moment are conditions and methods changing more rapidly than in the work shop and factory itself. The application of new methods of processing, the invention of new tools, and the use of new combinations of cutting steels, are some of the things that in themselves are revolutionizing not only factory practice, but the character and skill of the labor employed; which results in a tendency toward a vast increase in output per capita. These things are in turn all forcing new methods and ways into industrial administration.”

Clinton Edgar Woods (1863) American engineer

Source: Organizing a factory (1905), p. 1; First paragraph of the first chapter

“The Russian revolution was nominally based on Communist dogma; but its significant struggle was to find some instrument by which a vast backward country could be mauled into industrialization. The capitalist revolution in which the United States was the leader found apter, more efficient and more flexible means through collectivizing capital in corporations.”

Adolf A. Berle (1895–1971) American diplomat

Source: The 20th century capitalist revolution. 1954, p. 23

“We find our population suffering from old inequalities, little changed by vast sporadic remedies.”

Franklin D. Roosevelt (1882–1945) 32nd President of the United States

1930s, State of the Union Address (1935)
Context: We find our population suffering from old inequalities, little changed by vast sporadic remedies. In spite of our efforts and in spite of our talk, we have not weeded out the over privileged and we have not effectively lifted up the underprivileged. Both of these manifestations of injustice have retarded happiness. No wise man has any intention of destroying what is known as the profit motive; because by the profit motive we mean the right by work to earn a decent livelihood for ourselves and for our families.
We have, however, a clear mandate from the people, that Americans must forswear that conception of the acquisition of wealth which, through excessive profits, creates undue private power over private affairs and, to our misfortune, over public affairs as well. In building toward this end we do not destroy ambition, nor do we seek to divide our wealth into equal shares on stated occasions. We continue to recognize the greater ability of some to earn more than others. But we do assert that the ambition of the individual to obtain for him and his a proper security, a reasonable leisure, and a decent living throughout life, is an ambition to be preferred to the appetite for great wealth and great power.

“… age-old philosophical attitudes which arise from false factual premises, with vast theoretical superstructures framed to fit those premises”

Nyanaponika Thera (1901–1994) German Buddhist monk

Source: The Heart of Buddhist Meditation (1965), p. 38

“Creating a system to protect industrial and intellectual property is a prerequisite for the transfer of technology and consequently the resurgence of national technologies.”

Talal Abu-Ghazaleh (1938) Jordanian businesspeople

June 18, 2007, National Seminar on Industrial Property and Technology Transfer in Arab States, Amman, Jordan.

“So vast the labor to create
The fabric of the Roman state!”

John Conington (1825–1869) British classical scholar

Source: Translations, The Aeneid of Virgil (1866), Book I, p. 4

“In the Israeli democracy, we will continue to protect the rights of both the individual and the group, this is guaranteed. But the majority have rights too, and the majority rules, the vast majority of people want to preserve the Jewish character of our country for generations to come, this combination of individual rights and group rights are the definition of a Jewish and democratic state.”

Benjamín Netanyahu (1949) Israeli prime minister

As quoted in Defending controversial Jewish state bill, Netanyahu says ‘majority rules’ https://www.timesofisrael.com/liveblog_entry/pm-defends-controversial-jewish-state-bill-says-majority-have-rights-too/ (12 July 2018) by Tamar Pileggi, The Times of Israel. <br class="br">2010s, 2018

“The vast individual and corporate fortunes, the vast combinations of capital which have marked the development of our industrial system, create new conditions, and necessitate a change from the old attitude of state and the nation toward property.”

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Theodore Roosevelt445

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