“[B]oth the communists and fascists revolutions definitely abolished laissez-faire capitalism in favor of one or another kind and degree of state capitalism.”

— Norman Thomas

A Socialist’s Faith, W. W. Norton, 1951, p. 55.

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 "[B]oth the communists and fascists revolutions definitely abolished laissez-faire capitalism in favor of one or another…" by Norman Thomas?

Norman Thomas 15

American Presbyterian minister and socialist 1884–1968

Related quotes

“When I say “capitalism,” I mean a full, pure, uncontrolled, unregulated laissez-faire capitalism—with a separation of state and economics, in the same way and for the same reasons as the separation of state and church.”

Ayn Rand book The Virtue of Selfishness

The Virtue of Selfishness (1964)

“As the State formerly played a most important part in the revolutions that abolished the old economic systems, so it must again be the State that should abolish capitalism.”

Georges Sorel book Reflections on Violence

Source: Reflections on Violence (1908), p. 170

“Laissez Faire was very good sauce for the goose, labor, but was very poor sauce for the gander, capital.”

Benjamin Ricketson Tucker (1854–1939) American journalist and anarchist

¶ 19
State Socialism and Anarchism: How Far They Agree, and Wherin They Differ (1888)

“To-day we can affirm that the capitalistic method of production is out of date. So is the doctrine of laissez-faire, the theoretical basis of capitalism… To-day we are taking a new and decisive step in the path of revolution. A revolution, in order to be great, must be a social revolution.”

Benito Mussolini (1883–1945) Duce and President of the Council of Ministers of Italy. Leader of the National Fascist Party and subsequen…

Speech on November 14, 1933 as quoted in Under the Axe of Fascism, Gaetano Salvemini, London, UK, Victor Gollancz Ltd. (1936) p. 131
1930s

“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.