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April 10, 2026
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"To say that capitalism is a failed system is not, of course, to suggest that its breakdown and disintegration is imminent. It does, however, mean that it has passed from being a historically necessary and creative system at its inception to being a historically unnecessary and destructive one in the present century."
"Indications of this failure of capitalism are everywhere. Stagnation of investment punctuated by bubbles of financial expansion, which then inevitably burst, now characterizes the so-called free market. Soaring inequality in and wealth has its counterpart in the declining material circumstances of a majority of the population. for most workers in the United States have barely budged in forty years despite steadily rising productivity. has increased, while work and safety protections on the job have been systematically jettisoned. Unemployment data has become more and more meaningless due to a new institutionalized underemployment in the form of contract labor in the gig economy. Unions have been reduced to mere shadows of their former glory as capitalism has asserted totalitarian control over workplaces. With the demise of Soviet-type societies, social democracy in Europe has perished in the new atmosphere of âliberated capitalism.â The capture of the produced by overexploited populations in the poorest regions of the world, via the instituted by multinational corporations, is leading to an unprecedented amassing of financial wealth at the center of the world economy and relative poverty in the periphery."
"Adequate health care, , education, and and air are increasingly out of reach for large sections of the population, even in wealthy countries in North America and Europe, while is becoming more difficult in the United States and many other countries due to irrationally high levels of dependency on the automobile and disinvestment in public transportation. Urban structures are more and more characterized by gentrification and segregation, with cities becoming the playthings of the well-to-do while marginalized populations are shunted aside. About half a million people, most of them children, are homeless on any given night in the United States."
"At the instigation of giant corporations, philanthrocapitalist foundations, and neoliberal governments, has been restructured around corporate-designed testing based on the implementation of robotic common-core standards. This is generating massive databases on the student population, much of which are now being surreptitiously marketed and sold. The and privatization of education is feeding the progressive subordination of childrenâs needs to the cash nexus of the . [...] Having been reduced to intellectual dungeons, many of the poorest, most racially segregated schools in the United States are mere pipelines for prisons or the military."
"More than two million people in the United States are behind bars, a higher rate of incarceration than any other country in the world, constituting a new Jim Crow. The total population in prison is nearly equal to the number of people in , Texas, the fourth largest U.S. city. African Americans and make up 56 percent of those incarcerated, while constituting only about 32 percent of the U.S. population. Nearly 50 percent of American adults, and a much higher percentage among African Americans and , have an immediate family member who has spent or is currently spending time behind bars. Both black men and Native American men in the United States are nearly three times, Hispanic men nearly two times, more likely to die of police shootings than white men. Racial divides are now widening across the entire planet."
"Violence against women and the expropriation of their , as well as the higher level of exploitation of their paid labor, are integral to the way in which power is organized in capitalist societyâand how it seeks to divide rather than unify the population. More than a third of women worldwide have experienced physical/. , in particular, are objectified, reified, and commodified as part of the normal workings of monopoly-capitalist marketing."
"The mass media-propaganda system, part of the larger corporate matrix, is now merging into a -based propaganda system that is more porous and seemingly anarchic, but more universal and more than ever favoring money and power. Utilizing modern marketing and surveillance techniques, which now dominate all digital interactions, vested interests are able to tailor their messages, largely unchecked, to individuals and their s, creating concerns about âfake newsâ on all sides. Numerous business entities promising technological manipulation of voters in countries across the world have now surfaced, auctioning off their services to the highest bidders. The elimination of net neutrality in the United States means further concentration, , and control over the entire Internet by monopolistic ."
"[M]ajor energy corporations continue to lie about climate change, promoting and bankrolling climate denialismâwhile admitting the truth in their internal documents. These corporations are working to accelerate the extraction and production of , including the dirtiest, most -generating varieties, reaping enormous profits in the process. The melting of the Arctic ice from global warming is seen by capital as a new , opening up massive additional oil and gas reserves to be exploited without regard to the consequences for the . In response to scientific reports on climate change, Exxon Mobil declared that it intends to extract and sell all of the fossil-fuel reserves at its disposal. Energy corporations continue to intervene in climate negotiations to ensure that any agreements to limit carbon emissions are defanged. Capitalist countries across the board are putting the accumulation of wealth for a few above combatting climate destabilization, threatening the very future of humanity."
"Capitalism is best understood as a competitive class-based mode of production and exchange geared to the accumulation of capital through the exploitation of workersâ labor power and the private appropriation of (value generated beyond the costs of the workersâ own reproduction). The mode of economic accounting intrinsic to capitalism designates as a value-generating good or service anything that passes through the market and therefore produces income. It follows that the greater part of the social and environmental costs of production outside the market are excluded in this form of valuation and are treated as mere negative âexternalities,â unrelated to the capitalist economy itselfâwhether in terms of the shortening and degradation of human life or the destruction of the natural environment."
"We have now reached a point in the twenty-first century in which the externalities of this irrational system, such as the costs of war, the depletion of natural resources, the waste of human lives, and the disruption of the planetary environment, now far exceed any future economic benefits that capitalism offers to society as a whole. The accumulation of capital and the amassing of wealth are increasingly occurring at the expense of an irrevocable rift in the social and environmental conditions governing human life on earth."
"[[w:Economy of China#Development|[C]hinese development]] has its roots in the 1949 Chinese Revolution, carried out by the headed by Mao Zedong, whereby it liberated itself from the imperialist system. This allowed it to develop for decades under a planned economy largely free of constraints from outside forces, establishing a strong agricultural and industrial economic base. This was followed by a shift in the post-Maoist reform period to a hybrid system of more limited state planning along with a much greater reliance on market relations (and a vast expansion of debt and speculation) under conditionsâthe globalization of the world marketâthat were particularly fortuitous to its âcatching up.â Through s and other pressures aimed at destabilizing Chinaâs position in the world market, the United States is already seeking to challenge the bases of Chinaâs growth in world trade. China, therefore, stands not so much for the successes of but rather for its inherent limitations. The current Chinese model, moreover, carries within it many of the destructive tendencies of the system of capital accumulation. Ultimately, Chinaâs future too depends on a return to the process of revolutionary transition, spurred by its own population."
"An understanding of the failure of capitalism, beginning in the twentieth century, requires a historical examination of the rise of neoliberalism, and how this has only served to increase the destructiveness of the system. Only then can we address the future of humanity in the twenty-first century."
"For many people on the left, the answer to neoliberalism or disaster capitalism is a return to welfare-state liberalism, market regulation, or some form of limited social democracy, and thus to a more rational capitalism. It is not the failure of capitalism itself that is perceived as the problem, but rather the failure of neoliberal capitalism. In contrast, the Marxian tradition understands neoliberalism as an inherent outgrowth of late capitalism, associated with the domination of monopoly-finance capital. A critical-historical analysis of neoliberalism is therefore crucial both to grounding our understanding of capitalism today and uncovering the reason why all alternatives to neoliberalism and its capitalist absolutism are closed within the system itself."
"Adorno retains the concept of the system and even makes it, as target and object of critique, the very center of his own anti-systematic thinking. ... His most powerful philosophical and aesthetic interventions are all implacable monitory reminders—sometimes in well-nigh Weberian or Foucauldian tones—of our imprisonment within system, the forgetfulness or repression of which binds us all the more strongly to it."
"... how works that posit the end of history can offer any usable historical impulses, how works which aim to resolve all political differences can continue to be in any sense political, how texts designed to overcome the needs of the body can remain materialistic, and how visions of the "epoch of rest" (Morris) can energize and compel us to action. There are good reasons for thinking that all these questions are undecidable: which is not necessarily a bad thing provided we continue to try to decide them."
"It seems to be easier for us today to imagine the thoroughgoing deterioration of the earth and of nature than the breakdown of late capitalism; perhaps that is due to some weakness in our imaginations."
"It would seem essential to distinguish the emergent forms of a new commercial culture - beginning with advertisements and spreading on to formal packaging of all kinds, from products to buildings, and not excluding artistic commodities such as television shows (the "logo") and best-sellers and films - from the older kinds of folk and genuinely "popular" culture which flourished when the older social classes of a peasantry and an urban artisanat still existed and which, from the mid-nineteenth century on, has gradually been colonized and extinguished by commodification and the market system."
"The problem of postmodernism - how its fundamental characteristics are to be described, whether it even exists in the first place, whether the very concept is of any use, or is, on the contrary, a mystification - this problem is a t one and the same time an aesthetic and political one."
"Fruit trees in this world are ancient and exhausted sticks coming out of poor soil; the people of the village are worn down to their skulls, caricatures of some ultimate grotesque typology of basic human feature types. How is it, then, that in Van Gogh such things as apple trees explode into a hallucinatory surface of color, while his village stereotypes are suddenly and garishly overlaid with hues of red and green?"
"If we are unable to unify the past, present, and future of the sentence, then we are similarly unable to unify the past, present, and future of our own biographical experience or psychic life."
"Theories of the postmodern - whether celebratory or couched in the language of moral revulsion and denunciation - bear a strong family resemblance to all those more ambitious sociological generalizations which, at much the same time, bring us the news of the arrival and inauguration of a whole new type of society, most famously baptized "postindustrial society"(Daniel Bell) but often also designated consumer society, media society, information society, electronic society, or high tech and the like. Such theories have the obvious ideological mission of demonstrating, to their own relief, that the new social formation in question no longer obeys the laws of classical capitalism, namely, the primacy of industrial production and the omnipresence of class struggle."
"If the ideas of a ruling class were once the dominant (or hegemonic) ideology of bourgeois society, the advanced capitalist countries today are now a field of stylistic and discursive heterogeneity without norm. Faceless masters continue to inflect the economic strategies which constrain our existence, but they no longer need to impose their speech (or are henceforth unable to); and the postliteracy of the late capitalist world reflects not only the absence of any great collective project but also the unavailability of the older national language itself."
"The last few years have been marked by an inverted millenarianism in which premonition of the future, catastrophic or redemptive, have been replaced by senses of the end of this or that (the end of ideology, art, or social class; the "crisis" of Leninism, social democracy, or the welfare state, etc., etc.,); taken together, all of these perhaps constitute what is increasing called postmodernism."
"Utopia is a spatial matter that might be thought to know potential change in fortunes in so spatialized a culture as the postmodern; but if this last is a dehistoricized and dehistorizing as I some times claim here, the synaptic chain that might lead the Utopian impulse to expression becomes harder to localize. Utopian representations knew an extraordinarily revival in the 1960's; if postmodernism is the substitute for the sixties and the compensation for their political failure, the question of Utopia would seem to be a crucial test of what is left of our capacity to imagine change at all."
"The success story of the word postmodernism demands to be written, no doubt in best-seller format; such lexical neoevents, in which the coinage of a neologism has all the reality impact of a corporate merger, are among the novelties of media society which require not merely study but the establishment of a whole new media-lexicological subdiscipline."
"What "late" generally conveys is rather the sense that something has changed, that things are different, that we have gone through a transformation of the life world which is somehow decisive but incomparable with the older convulsions of modernization and industrialization, less perceptible and dramatic, somehow, but more permanent precisely because more thoroughgoing and all-pervasive."
"This matter of periodization is not , however, altogether alien to the signals given off by the expression "late capitalism," which is by now clearly identified as a kind of leftist logo which is ideologically and politically booby-trapped, so that the very act of using it constitutes tacit agreement about a whole range of essentially Marxian social and economic propositions the other side may be far from wanting to endorse. Capitalist was itself always a funny word in this sense: just using the word - otherwise a neutral enough designation for an economic social system on whose properties all sides agree - seemed to position you in a vaguely critical suspicious, if not outright socialist stance: only committed right wing ideologues and full-throated apologists also use it with the same relish."
"Postmodernism theory is one of those attempts: the effort to take the temperature of the age without instruments and in a situation in which we are not even sure there is so coherent a thing as an "age,"or zeitgeist or "system" or "current situation"any longer. Postmodernism theory is then dialectical at least insofar as it has the wit to seize on that very uncertainty as its first clue and to hold to its Ariadne's thread on its way through what may not turn out to be a labyrinth at all, but a gulag or perhaps a shopping mall."
"Postmodernism is what you have when the modernization process is complete and nature is gone for good. It is a more fully human world than the older one, but one in which "culture" has become a veritable "second nature.""
"The moderns were interested in what was likely to come of such changes and their general tendency: they thought about the thing itself, substantively, in utopian or essential fashion."
"Turning from political economy in a narrow sense, it is apparent that the commodity-producing form constitutes the most effective possible veil over the true class character of capitalist society."
"Mr. Sweezy did not think of himself as a Stalinist or sectarian. His Marxism developed as a response to the Great Depression..."
"So far as the individual capitalists are concerned, each takes the wage level for granted and attempts to do the best he can for himself. In introducing machinery he is therefore merely attempting to economize on his own wage bill. The net effect of all the capitalistsâ behaving in this way, however, is to create unemployment which in turn acts upon the wage level itself. It follows that the stronger the tendency of wages to rise, the stronger also will be the counteracting pressure of the reserve army, and vice versa."
"The magnitude of the rate of surplus value is directly determined by three factors: the length of the working day, the quantity of commodities entering into the real wage, and the productiveness of labor. The first establishes the total time to be divided between necessary and surplus labor, and the second and third together determine how much of this time is to be counted as necessary labor. Each of these three factors is in turn the focal point of a complex of forces which have to be analysed in the further development of the theory. The rate of surplus value may be raised either by an extension of the working day, or by a lowering of the real wage, or by an increase in the productiveness of labor, or, finally, by some combination of the three movements. In case of an increase in the length of the working day, Marx speaks of the production of absolute surplus value, while either a lowering of the real wage or an increase in productivity, leading to a reduction of necessary labor, results in the production of relative surplus value."
"The expansion of value, which is the objective basis or main-spring of the circulation M-C-M, becomes his subjective aim, and it is only in so far as the appropriation of ever more and more wealth in the abstract becomes the sole motive of his operations that he functions as a capitalist, that is, as capital personified and endowed with consciousness and a will. Use values must therefore never be looked upon as the real aim of the capitalist; neither must the profit on any single transaction. The restless never-ending process of profit-making alone is what he aims at."
"Under simple commodity production, to which we have so far largely confined our attention, each producer owns and works with his own means of production; under capitalism ownership of the means of production is vested in one set of individuals while the work is performed by another. Both means of production and labor power, moreover, are commodities; that is to say, both are objects of exchange and hence bearers of exchange value. It follows that not only the relations among owners but also the relations between owners and non-owners have the character of exchange relations. The former is characteristic of commodity production in general, the latter of capitalism only."
"Supply and demand will be in equilibrium only when the price of every commodity is proportional to the labor time required to produce it. Conversely prices proportional to labor times will be established only if the forces of competitive supply and demand are allowed to work themselves out freely. The competitive supply-and-demand theory of price determination is hence not only not inconsistent with the labor theory; rather it forms an integral, if sometimes unrecognized, part of the labor theory."
"In every society, from the most primitive to the most advanced, it is essential that labor be applied to production and that goods be distributed among the members of society. What changes in the course of history is the way in which these productive and distributive activities are organized and carried out."
"Capitalist society is characterized by a degree of labor mobility much greater than prevailed in any previous form of society."
"Society is more than a number of individuals. It is a number of individuals among whom certain definite and more or less stable relations exist."
"It is essential to realize that it was this analysis of the social characteristics of commodity production, and not an arbitrary preconception or an ethical principle, which led Marx to identify labor as the substance of value."
"In possessing exchange value relative to one another, commodities show their unique characteristic. It is only as commodities, in a society where exchange is a regular method of realizing the purpose of social production, that products have exchange value."
"In possessing use value a commodity is in no way peculiar. Objects of human consumption in every age and in every form of society likewise possess use value. Use value is an expression of a certain relation between the consumer and the object consumed. Political economy, on the other hand, is a social science of the relations between people."
"Most people take capitalism for granted, just as they take the solar system for granted. The eventual passing of capitalism, which is often conceded nowadays, is thought of in much the same way as the eventual cooling of the sun, that is to say, its relevance to contemporary events is denied."
"The legitimate purpose of abstraction in social science is never to get away from the real world but rather to isolate certain aspects of the real world for intensive investigation."
"It must be emphasized, because the contrary has so often been asserted, that Marx was not trying to reduce everything to economic terms. He was rather attempting to uncover the true interrelation between the economic and the non-economic factors in the totality of social existence."
"Discussions of methodology in economics, as in other fields, are likely to be tiresome and unrewarding. Nevertheless, to avoid the problem altogether is to risk serious misunderstanding."
"It seems obvious that in this way the economist avoids a systematic exploration of those social relations which are so universally regarded as having a relevance to economic problems that they are deeply imbedded in the everyday speech of the business world. And it is even more obvious that the basic point of view which modern economics has adopted unfits it for the larger task of throwing light on the role of the economic element in the complex totality of relations between man and man which make up what we call society."
"The real danger from advertising is that it helps to shatter and ultimately destroy our most precious non-material possessions: the confidence in the existence of meaningful purposes of human activity and respect for the integrity of man."
"The fact is that the choice between Socialism-from-Above and Socialism-from-Below is, for the intellectual, basically a moral choice, whereas for the working masses who have no social alternative it is a matter of necessity. The intellectual may have the option of "joining the Establishment" where the worker does not; the same option holds also for labor leaders, who, as they rise out of their class, likewise confront a choice that did not exist before. The pressure of conformity to the mores of the ruling class, the pressure for bourgeoisification, is stronger in proportion as personal and organizational ties with the ranks below become weak. It is not hard for an intellectual or bureaucratized official to convince himself that permeation of and adaptation to the existing power is the smart way to do it, when (as it happens) it also permits sharing in the perquisites of influence and affluence."