Posts Tagged ‘E.A.G. Robinson’

E.A.G. Robinson on Capitalist Nastiness

Posted by admin on Monday, June 2, 2014

E.A.G. Robinson Money Quotation saying greedy, evil capitalists find unreasonable means to acquire more than their share of profit and somehow accrue value to society. E.A.G. Robinson said:
 
The great merit of the capitalist system, it has been said, is that it succeeds in using the nastiest motives of nasty people for the ultimate benefit of society Quote
 

“The great merit of the capitalist system, it has been said, is that it succeeds in using the nastiest motives of nasty people for the ultimate benefit of society” — E.A.G. Robinson

 

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In this quote, author E.A.G. Robinson seems to be acknowledging both the strengths and weaknesses of capitalism. On one hand, he refers to the “nastiest motives” of self-interest, greed and profit-seeking as driving capitalist behavior.

However, Robinson also notes that these unsavory individual motives, when channeled within a free market system, ultimately benefit society through increased innovation, productivity and economic growth.

The quote conveys Robinson’s perspective that while capitalism is powered by less noble human traits like avarice, competition and ambition, it harnesses these impulses in a way that lifts overall prosperity – suggesting the system transforms vices into virtues on a macro level, even if the micro-level incentives remain less than noble.

Overall, Robinson appears to be recognizing capitalism’s ability to align private vice with public virtue through market forces.

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