Capitalism Quote by Stephen R.C. Hicks
““Traditionally, Marxist socialism had supposed that providing adequately for human needs was a basic test of a social system’s morality. The achievement of wealth, accordingly, was a good thing since wealth brought with it better nutrition, housing, healthcare, and leisure time. And so capitalism was held to be evil because Marxists believed that it denied most of its population the ability to enjoy the fruits of wealth. But as it became clear that capitalism is very good at producing the wealth and delivering the fruits—and that socialism is very bad at it—two new variations on Left thought turned this argument on its head and began to condemn capitalism precisely for being so good at producing wealth.””
About This Quote
Source Book: The Age of Entitlement, Stephen R.C. Hicks, 2020
Marxist critiques of capitalism shifted to condemn its success at wealth creation, despite earlier praising wealth as moral good.
In simple terms: Marxists now criticize capitalism for being too good at making money.
Key Takeaway
Recognize that wealth alone doesn't determine a system's morality.
Themes
economics
political theory
morality
wealth distribution
Mood
critical
analytical
Type
philosophical
political
When to use this quote
- policy analysis
- academic debate
- public discourse
- economic planning
Key Concepts
Marxism
capitalism
value theory
social justice
Questions to Reflect On
- How should societies measure moral success beyond wealth?
- Can wealth be distributed more equitably?
A Different Perspective
The argument may overlook how wealth is used and who benefits.
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