"What will be the consequences of the ultimate disappearance of private property? Society will take all forces of production and means of commerce, as well as the exchange and distribution of products, out of the hands of private capitalists and will manage them in accordance with a plan based on the availability of resources and the needs of the whole society. In this way, most important of all, the evil consequences which are now associated with the conduct of big industry will be abolished. There will be no more crises; the expanded production, which for the present order of society is and hence a prevailing cause of misery, will then be insufficient and in need of being expanded much further. Instead of generating misery, overproduction will reach beyond the elementary requirements of society to assure the satisfaction of the needs of all; it will create new needs and, at the same time, the means of satisfying them. It will become the condition of, and the stimulus to, new progress, which will no longer throw the whole social order into confusion, as progress has always done in the past."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
Friedrich Engels, ' (1847)
https://en.wikiquote.org/wiki/Planned_economy
Revision History
No revisions have been submitted for this quote.
Categories
Planned economy
11 quotes on TrueQuotesView all quotes by Planned economy →
Related Quotes
"Aside from Yugoslavia, experiments with decentralization did not extend to planning innovation, the greatest weakness…"
"The economic anarchy of capitalist society as it exists today is, in my opinion, the real source of the evil. We see …"
"Big industry, competition and generally the individualistic organization of production have become a fetter which it …"
"Industry controlled by society as a whole, and operated according to a plan, presupposes well-rounded human beings, t…"
"Such terms as communism, socialism, Fabianism, the welfare state, Nazism, fascism, state interventionism, egalitarian…"
"I still see Hayek as the best critic of all forms of centralized economic planning. It is to his merit to have shown …"
"As a result of the efforts of Hayek, Friedman, and the many others who share their general outlook, the idea of a cen…"
"Without a market in which allocations can be made in obedience to the law of supply and demand, it is difficult or im…"
"Under central planning neither planners, managers, nor workers had incentives to promote the social economic interest…"
"A fully planned economy was based on the government deciding the priorities for production. Government ministries the…"