Your system was liable to periodical convulsions...business crises at intervals of five to ten years, which wrecked the industries of the nation.
About this quote
- What does it mean?
- Unregulated markets face periodic crises that destroy industries.
- In plain terms
- Economies crash every few years hurting everyone.
- What can you take from it?
- Economic instability harms national industry.
Where it applies
Putting it to work
Questions to consider
- How do we prevent business cycles?
- What protects industries from collapse?
Another view
Not all economic systems experience these regular crises.
More from Edward Bellamy
If bread is the first necessity of life, recreation is a close second.
Permalink to quote #17 On no other stage are the scenes shifted with a swiftness so like magic as on the great stage of history when once the hour strikes.
Permalink to quote #19 Equal wealth and equal opportunities of culture...have simply made us all members of one class.
Permalink to quote #16
Related quotes
It is time to recognize that financial markets are inherently unstable. Imposing market discipline means imposing instability, and how much instability can soc…
George SorosGeorge Soros quote #17 Laissez-faire capitalism, or anarchocapitalism, is simply the economic form of the libertarian ethic. Laissez-faire capitalism encompasses the notion that men …
Karl HessKarl Hess quote #1 Is that to say we are against Free Trade? No, we are for Free Trade, because by Free Trade all economical laws, with their most astounding contradictions, will…
Karl MarxKarl Marx quote #1