Monopoly Quotes

“The learned and the studious of thought have no monopoly of wisdom. Their violence of direction in some degree disqualifies them to think truly.”

“Land monopoly is not only monopoly, but it is by far the greatest of monopolies; it is a perpetual monopoly, and it is the mother of all other forms of monopoly.”

“A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men who, even if their action be honest and intended for the public interest, are necessarily concentrated upon the great undertakings in which their own money is involved and who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom.”

“The great monopoly in this country is the money monopoly. So long as it exists, our old variety of freedom and individual energy of development are out of the question.”

“The benefit of even limited monopolies is too doubtful, to be opposed to that of their general suppression.”

“The very reason why we object to state ownership, that it puts a stop to individual initiative and to the healthy development of personal responsibility, is the reason why we object to an unsupervised, unchecked monopolistic control in private hands. We urge control and supervision by the nation as an antidote to the movement for state socialism. Those who advocate total lack of regulation, those who advocate lawlessness in the business world, themselves give the strongest impulse to what I believe would be the deadening movement toward unadulterated state socialism.”

“There is far more danger in public than in private monopoly, for when Government goes into business it can always shift its losses to the taxpayers. Government never makes ends meetand that is the first requisite of business.”

“Competition is a sin.”

“[What Hayek] does not see, or will not admit, [is] that a return to "free" competition means for the great mass of people a tyranny probably worse, because more irresponsible, than that of the State. The trouble with competitions is that somebody wins them. Professor Hayek denies that free capitalism necessarily leads to monopoly, but in practice that is where it has led, and since the vast majority of people would far rather have State regimentation than slumps and unemployment, the drift towards collectivism is bound to continue if popular opinion has any say in the matter.”

“I found that competition was supposed to be a menace and that a good manager circumvented his competitors by getting a monopoly by artificial means.”

“We had to struggle with the old enemies of peace - business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering”