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Capitalism versus Socialism Quotes

  • "Less than seventy-five years after it officially began, the contest between capitalism and socialism is over: capitalism has won."
    Robert L. Heilbroner (1919–2005), US economist
    Source: “Reflections: The Triumph of Capitalism,” New Yorker (January 23, 1989)
  • "During its rule of scarce one hundred years, capitalism has created more massive and more colossal productive forces than have all preceding generations together."
    Karl Marx (1818–1883), German political and economic philosopher
    Source: The Communist Manifesto (cowritten with Friedrich Engels, 1848)
  • "The twentieth century marks the turning point from the old capitalism to the new, from the domination of capital in general to the domination of financial capital."
    Vladimir Ilich Lenin (1870–1924), Russian revolutionary leader and political theorist
    Source: Imperialism, the Higher Stages of Capitalism (1917)
  • "Prosperity or egalitarianism—you have to choose. I favor freedom—you never achieve real equality anyway: you simply sacrifice prosperity for an illusion."
    Mario Vargas Llosa (1936–), Peruvian novelist, playwright, and essayist
    Source: Independent on Sunday (London) (May 5, 1991)
  • "Communism has failed, but capitalism has not succeeded."
    William Keegan (1938–), British author and journalist
    Source: The Spectre of Capitalism (1992)
  • "The fact that global capitalism is flawed does not mean that we should turn to communism or withdraw into national isolation, just as the failure of communism does not mean that markets are perfect."
    George Soros (1930–), US financier, entrepreneur, and philanthropist
    Speech to the Council on Foreign Relations, New York City.
    Source: “The Crisis of Global Capitalism: Open Society Endangered” (December 10, 1998)
  • "You cannot go to sleep with one form of economic system and wake up the next morning with another."
    Mikhail Gorbachev (1931–), Russian former president
    Source: Guardian (London) (December 7, 1990)
  • "If there is a man on this earth who is entitled to all the comforts and luxuries of this life … it is the man whose labor produces them … Does he get them in the present system?"
    Eugene V. Debs (1855–1926), US politician and labor union leader
    Speech at Girard, Kansas.
    Source: “The Issue” (May 23, 1908)
  • "In the end we beat them with Levi 501 jeans. Seventy-two years of Communist indoctrination and propaganda was drowned out by a three-ounce Sony Walkman."
    P. J. O'Rourke (1947–), US humorist and journalist
    Source: “The Death of Communism,” Rolling Stone (November 1989)
  • "The natural counterpart of a free market economy is a politics of insecurity."
    John Gray (1948–), British academic and writer
    Source: False Dawn (1998)
  • "Capitalism inevitably and by virtue of the very logic of its civilization creates, educates and subsidizes a vested interest in social unrest."
    Joseph Alois Schumpeter (1883–1950), US economist and social theorist
    Source: Capitalism, Socialism and Democracy (1942), ch. 13
  • "Capitalism is at its liberating best in a noncapitalist environment. The crypto-businessman is the true revolutionary in a Communist country."
    Eric Hoffer (1902–1983), US philosopher
    Source: Reflections on the Human Condition (1973)

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