Term Capitalism

Famous quotes containing the words term and/or capitalism:

“The developments in the North were those loosely embraced in the term modernization and included urbanization, industrialization, and mechanization. While those changes went forward apace, the antebellum South changed comparatively little, clinging to its rural, agricultural, labor-intensive economy and its traditional folk culture.”
—C. Vann Woodward (b. 1908)

“History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.”
—Milton Friedman (b. 1912)