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Home | Mises Library | Capitalism the Creator

Capitalism the Creator

  • Capitalism the Creator by Carl Snyder
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Tags U.S. EconomyU.S. History

02/26/1940Carl Snyder

The Economic Foundations of Modern Industrial Society

There is one way, and only one way, that any people, in all history, have ever risen from barbarism and poverty to affluence and culture; and that is by that concentrated and highly organized system of production and exchange which we call Capitalistic: one way, and one alone. Further, that it is solely by the accumulation (and concentration) of this Capital, and directly proportional to the amount of this accumulation, that the modern industrial nations have arisen: perhaps the sole way throughout the whole of eight or ten thousand years of economic history.

References

Arno Press and The New York Times, 1972

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