“The second reason I focus on capitalism is that the responses to today's economic collapse by Trump, the GOP and most Democrats carefully avoid any criticism of capitalism. They all debate the virus, China, foreigners, other politicians, but never the system they all serve. When Trump and others press people to return to churches and jobs—despite risking their and others' lives—they place reviving a collapsed capitalism ahead of public health.”

COVID-19 and the Failures of Capitalism (2020)

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Richard D. Wolff18

American economist 1942

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“It's not necessarily against a system that it collapses, because most systems do collapse in the end. That’s a part of the wheel of life - systems do collapse. So I’m to some extent slightly inclined to forgive capitalism for being about to collapse. I mean there are lots of fine things, lots of love affairs and the like which have come to a sticky end. On the other hand, it is quite an accusation - quite hard for it to live down - that it's going to destroy the entire planet with it.”

David Fleming (1940–2010) British activist

Interview, November 4th, 2010 http://www.darkoptimism.org/2016/10/14/by-popular-demand-david-flemings-interviews/

“Despite the miracles of capitalism, it doesn't do well in popularity polls. One of the reasons is that capitalism is always evaluated against the non-existent, non-realizable utopias of socialism or communism. Any earthly system, when compared to a Utopia will pale in comparison. But for the ordinary person, capitalism, with all of its warts, is superior to any system yet devised to deal with our everyday needs and desires.”

Walter E. Williams (1936) American economist, commentator, and academic

2010s, Markets, Governments, and the Common Good

“Economic growth is the aggregate effect of the quest to accumulate capital and extract profit. Capitalism collapses without growth, yet perpetual growth on a finite planet leads inexorably to environmental calamity.”

George Monbiot (1963) English writer and political activist

"Dare to declare capitalism dead – before it takes us all down with it" https://www.theguardian.com/commentisfree/2019/apr/25/capitalism-economic-system-survival-earth, The Guardian, 25 April 2019.

“Without the collapse of capitalism the expropriation of the capitalist class is impossible.”

Rosa Luxemburg (1871–1919) Polish Marxist theorist, socialist philosopher, and revolutionary

Source: Reform or Revolution (1899), Ch. 9

“The crisis afflicting this country, along with other countries of the Western world, is a crisis of capitalism. It is a crisis of the dominant economic system that prevails in all those countries.”

Michael Foot (1913–2010) British politician

Speech to the House of Commons (Hansard, 20 January 1976, Col. 1126)
1970s

“The problem of policies aimed to return the economy to what it was before the virus hit is this: Global capitalism, by 2019, was itself a major cause of the collapse in 2020. Capitalism's scars from the crashes of 2000 and 2008-2009 had not healed. Years of low interest rates had enabled corporations and governments to "solve" all their problems by borrowing limitlessly at almost zero interest rate cost. All the new money pumped into economies by central banks had indeed caused the feared inflation, but chiefly in stock markets whose prices consequently spiraled dangerously far away from underlying economic values and realities. Inequalities of income and wealth reached historic highs. In short, capitalism had built up vulnerabilities to another crash that any number of possible triggers could unleash. The trigger this time was not the dot.com meltdown of 2000 or the sub-prime meltdown of 2008/9; it was a virus. And of course, mainstream ideology requires focusing on the trigger, not the vulnerability. Thus mainstream policies aim to reestablish pre-virus capitalism. Even if they succeed, that will return us to a capitalist system whose accumulated vulnerabilities will soon again collapse from yet another trigger.”

Richard D. Wolff (1942) American economist

COVID-19 and the Failures of Capitalism (2020)

“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)

“Following the financial crisis of September 2008 when the American investment bank Lehman Brothers collapsed, threatening to engulf the entire banking system, the British economist John Maynard Keynes returned to center stage. In the popular press and in the writings of many economists, Keynes featured prominently as governments around the world urgently sought ways to avoid economic collapse. (…) After only a brief delay, critics of Keynes’s ideas also began to appear; but the emergence of such critics only served to emphasize the fact of his return, for only a few years earlier Keynes’s name would not even have appeared in public debate about economic policy: his ideas were seen as having so little relevance that it did not even seem necessary to mention his name when discussing the performance of the economy.”

Roger Backhouse (economist) (1951) British economist

Roger E. Backhouse and Bradley W. Bateman, ch.1 "Keynes Returns, but Which Keynes?" Capitalist revolutionary : John Maynard Keynes (2011).

“Trump’s dig on socialism means he’s scared, Ocasio-Cortez said after his speech. What really scares the pro-plutocrats on both sides of the political aisle about her, Sanders and other democratic socialists is that they have become messengers for a compelling message with an actual vision — the simple idea that it’s up to government to intervene and equalize the playing field between the capital that owns the politicians, the system and the rewards, and the general public toiling to provide those rewards.”

Krystal Ball (1981) American journalist

“Think about the strangeness of today's situation. Thirty, forty years ago, we were still debating about what the future will be: communist, fascist, capitalist, whatever. Today, nobody even debates these issues. We all silently accept global capitalism is here to stay. On the other hand, we are obsessed with cosmic catastrophes: the whole life on earth disintegrating, because of some virus, because of an asteroid hitting the earth, and so on. So the paradox is, that it's much easier to imagine the end of all life on earth than a much more modest radical change in capitalism.”

Slavoj Žižek (1949) Slovene philosopher

Žižek! (2005); as Žižek notes on p. 1 of Mapping Ideology (1994), the observation that it is easier to imagine the end of the earth than the end of capitalism was originally made by Fredric Jameson.

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Richard D. Wolff18

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