Capitalism Quote by Alan Greenspan
“Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices. It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.”
About This Quote
Source Speech: Economic Policy Address, Alan Greenspan, 1995
Capitalism promotes self-interest and integrity as virtues, yet welfare interventions often undermine these by imposing fear and bureaucracy.
In simple terms: Capitalism values self-interest and integrity; welfare policies can erode them.
Key Takeaway
Balance market virtues with prudent regulation.
Themes
economics
morality
policy
trust
fear
Mood
analytical
concerned
Type
political
economic
When to use this quote
- business decisions
- government policy
- consumer trust
- corporate governance
- public welfare
Key Concepts
capitalism
welfare state
regulation
ethical economics
Questions to Reflect On
- How can policy protect without creating fear?
- What role should trust play in economic systems?
A Different Perspective
Overregulation may stifle the moral incentives of markets.
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