“As soon as we go into details and inquire into the individual items in which progress was most conspicuous, the trail leads not to the doors of those firms that work under conditions of comparatively free competition but precisely to the door of the large concerns--which, as in the case of agricultural machinery, also account for much of the progress in the competitive sector--and a shocking suspicion dawns upon us that big business may have had more to do with creating that standard of life than with keeping it down.”
“I felt it my duty to take, and to inflict upon the reader, considerable trouble in order to lead up effectively to my paradoxical conclusion: capitalism is being killed by its achievements.”
Capitalism, Socialism and Democracy
“Love and hate have so blurred the results of such serious work as has so far been done on this question—it is not much—that even mere restatement of widely accepted views seemed justified here and the...”
Capitalism, Socialism and Democracy
“The classical theory of monopolistic pricing (the Cournot-Marshall theory) is not entirely valueless, especially when overhauled so as to deal not only with the instantaneous maximization of monopoly ...”
Capitalism, Socialism and Democracy
“Current economic theory is almost wholly a theory of the administration of a given industrial apparatus. But much more important than the manner in which capitalism administers given industrial struct...”
Capitalism, Socialism and Democracy
“Frank presentation of ominous facts was never more necessary than it is today because we seem to have developed escapism into a system of thought.”
Capitalism, Socialism and Democracy