Thursday, January 5, 2012

I now understand the reason for my doubts…

"Until very recently, … I had grave doubts that what has come to be called 'capitalism' could establish the kind of economic democracy which political democracy required as its counterpart. I now understand the reasons for my doubts. They were based on an understanding of 'capitalism' which was colored by the sound criticisms that had been leveled against its injustices and inequities, not only by Marx and Engels, and by socialists generally, but also by Popes Leo XIII and Pius XI, and by social philosophers or reformers as diverse as Alexis de Tocqueville, Horace Mann, Henry George, Theodore Roosevelt, Woodrow Wilson, Hilaire Belloc, Jacques Maritain, Amintore Fanfani, and Karl Polanyi."
-- Mortimer Adler, Preface to The Capitalist Manifesto (1958) by Louis Kelso, p. 5.

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