Quotation of the Day…

by Don Boudreaux on March 8, 2013

in Complexity & Emergence, Creative destruction, History

… is from pages 45-46 of the original edition of Fareed Zakaria’s useful 2003 book, The Future of Freedom:

Nothing has shaped the modern world more powerfully than capitalism, destroying as it has millennia-old patterns of economic, social, and political life.  Over the centuries it has destroyed feudalism and monarchism with their emphasis on bloodlines and birth.  It has created an independent class of businesspeople who owe little to the state and who are now the dominant force in every advanced society in the world.  It has made made change and dynamism – rather than order and tradition – the governing philosophy of the modern age.  Capitalism created a new world, utterly different from the one that had existed for millennia.

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