History , as it comes into our daily lives, is charged with surprise and shock.
Stalinism is a pathology of socialism, Hitlerism being the apposite example for capitalism.
If an economy in the doldrums could drift indefinitely, the price of government inaction might be graver by far than the consequences of bold unorthodoxy.
Socialism has been a great tragedy this century.
Veblen once asked a religious student the value of her church in kegs of beer.
Before economics can progress, it must abandon its suicidal formalism.
Karl Marx did not call for an opposition to the forces of history. On the contrary he accepted all of them, the drive of technology, the revolutionizing effects of democratic striving, even the vagaries of capitalism, as being indeed the carriers of a brighter future.
Very few of the heroes of the Golden Age of American finance had much interest in the solid realities of what underlay their structure of stocks and bonds and credits .
We turn to Marx, therefore, not because he is infallible, but because he is inescapable.
Today and over the foreseeable future,traditional capitalism throughout most of the world has been thrown on a defensive from which it is doubtful that it can never recover.
In the periods of crisis, the bigger firms absorb the smaller ones,and when the industrial monsters eventually go down, the wreckage is far greater than when the little enterprises buckle.
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