“Quote, the viability of a postsingularity economy of scarcity is indicated by the transition from an indirection-layer-based economy using markers of exchange of goods and services to a tree-structured economy characterized by optimal allocation of productivity systems in accordance with iterated tit-for-tat prisoner’s dilemma. Money is a symptom of poverty and inefficiency. Unquote.”

— Charles Stross , book Singularity Sky

Source: Singularity Sky (2003), Chapter 6, “Telegram from the Dead” (p. 143)

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Charles Stross 211

British science fiction writer and blogger 1964

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“Money as a medium of exchange becomes important when workers are paid in medium of exchange rather than in wage goods directly. Since wage goods constitute the majority of goods produced (particularly in the early stages of development), it is tempting (but misleading) to focus on exchanges and on money as a medium of exchange [like the neo-classicals]. Once capitalist production dominates the economy, money becomes universally important: money operates as a medium of exchange and money hoards provide a measure of security. However, production involves goods and services now in exchange for a promise to pay in the future. That is, money is involved in the production process because production is time-based and involves debt commitments. If one only focuses on the use of money in exchange or as a store of value, one ignores how money creation is inextricably related to time-based production in private property economies.”

L. Randall Wray (1953) American economist

Source: Money and Credit in Capitalist Economies, 1990, p. 10; Cited in Howard Stein. "Theories of institutions and economic reform in Africa." World Development 22.12 (1994): 1833-1849.

“An economy based on information, with its tendency to zero-cost products and weak property rights, cannot be a capitalist economy.”

Paul Mason (journalist) book PostCapitalism: A Guide to our Future

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“We define the knowledge economy as production and services based on knowledge-intensive activities that contribute to an accelerated pace of technical and scientific advance, as well as rapid obsolescence. The key component of a knowledge economy is a greater reliance on intellectual capabilities than on physical inputs or natural resources.”

Walter W. Powell (1948) American sociologist

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“In the United States, we’ve long had a free market system, but that system is not what it once was. Total government spending–state, federal, and local–has grown in real terms by more than 400 percent since 1965. Government spending is now one-third of the economy. As the private economy retreats, the importance of a new marketplace grows: the political marketplace. Products and services are no longer judged according to their usefulness to the economy at large–they’re judged according to whether or not they are politically useful or connected. The political marketplace is the marketplace of crony capitalism. Its supply and demand are lobbying expenditures and the resulting federal program or carve out. Its actors are not firms, but the political class and the politicians they influence”

Ted Budd (1971) American politician

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“The fundamental differences between Marxian and traditional orthodox economics are, first, that the orthodox economists accept the capitalist system as part of the eternal order of Nature, while Marx regards it as a passing phase in the transition from the feudal economy of the past to the socialist economy of the future.”

Joan Robinson book An Essay on Marxian Economics

Source: An Essay on Marxian Economics (Second Edition) (1966), Chapter I, Introduction, p. 1

“Without the parallel development of systems of monetary - and credit-based exchange there could have been no development of economies beyond the most primitive organizational forms and the most geographically restricted sales.”

Peter Dicken (1938) British geographer

Source: Global Shift (2003) (Fourth Edition), Chapter 13, The Financial Services Industries, p. 437

“If making sure that workers get out of poverty would severely impact the economy, then maybe we don't need this economy.”

Kshama Sawant (1973) American politician and economist

Quoted in Kevin Roose, " Meet the Seattle Socialist Leading the Fight for a $15 Minimum Wage http://nymag.com/daily/intelligencer/2014/05/kshama-sawant-seattle-socialist.html", New York magazine (May 26, 2014).

“Capitalism is a system in which many scarce resources are owned privately, and decisions about allocating them are a private prerogative. Democracy is a system through which people as citizens may express preferences about allocating resources that they do not privately own. Hence the perennial question of political theory and of practical politics concerns the competence of these two systems with regard to each other. Is it possible for governments to control a capitalist economy? In particular, is it possible to steer the economy against the interests and preferences of those who control productive wealth?”

Adam Przeworski (1940) Polish-American academic

Adam Przeworski and Michael Wallerstein, The American Political Science Review (Mar., 1988)

“It would be more realistic to think of all economic enterprise as a public service. Thought of in this perspective, a private economy is a contradiction in terms. Every economy is a public or social (not socialist) economy.”

Robert A. Dahl (1915–2014) American political scientist

After the Revolution? (1970; 1990), Ch. 4 : From Principles to Problems

“Structuralism argues that a liberal capitalist world economy tends to preserve or actually increase inequalities between developed and less developed economies.”

Robert Gilpin (1930–2018) Political scientist

Source: The Political Economy of International Relations (1987), Chapter Seven, Dependence And Economic Development, p. 274

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