The backwardness of our religious and social developments is undoubtedly holding back the development of the intellectual and political levels.
Carroll QuigleyCapitalism might be defined, if we wish to be scientific, as a form of economic organization motivated by the pursuit of profit within a price structure.
Carroll QuigleyIt is clear that every civilization undergoes a process of historical change. We can see that a civilization comes into existence, passes through a long experience, and eventually goes out of existence.
Carroll QuigleyThe powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences.
Carroll QuigleyWhen profits are pursued by geographic interchange of goods, so that commerce for profit becomes the central mechanism of the system, we usually call it "commercial capitalism." In such a system goods are conveyed from ares where they are more common (and therefore cheaper) to areas where they are less common (and therefore less cheap). This process leads to regional specialization and to division of labor, both in agricultural production and in handicrafts.
Carroll QuigleyInflation, especially a slow steady rise in prices, encourages producers, because it means that they can commit themselves to costs of production on one price level and then, later, offer the finished product for sale at a somewhat higher price level. This situation encourages production because it gives confidence of an almost certain profit margin.
Carroll Quigley