Historians are to nationalism what poppy-growers in Pakistan are to heroin-addicts: we supply the essential raw material for the market.
Eric HobsbawmRead
It is one of the ironies of this strange century that the most lasting results of the October revolution, whose object was the global overthrow of capitalism, was to save its antagonist, both in war and in peace - that is to say, by providing it with the incentive, fear, to reform itself after the Second World War, and, by establishing the popularity of economic planning, furnishing it with some of the procedures for its reform
Interpretation
What this quote means
The October Revolution inadvertently strengthened capitalism by demonstrating its need for reform driven by competition and fear.
In this quote, Eric Hobsbawm reflects on the unintended consequences of the October Revolution, suggesting that instead of leading to capitalism's downfall, it fortified the capitalist system by instilling a fear of communism. This fear motivated capitalist societies to adapt and reform in order to retain their stability and avoid the alternative of economic planning and control offered by socialism, ultimately leading to a new phase of capitalist development post-World War II.
Themes
October RevolutionCapitalismReformEconomicsHistory
In practice
Example use cases
In a history class discussing the impact of the October Revolution.
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Impotence therefore faces both those who believe in what amounts to a pure, stateless, market capitalism, a sort of international bourgeois anarchism, and those who believe in a planned socialism uncontaminated by private profit-seeking. Both are bankrupt. The future, like the present and the past, belongs to mixed economies in which public and private are braided together in one way or another. But how? That is the problem for everybody today, but especially for people on the left.
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Nations without a past are contradictions in terms. What makes a nation is the past, what justifies one nation against others is the past, and historians are the people who produce it.
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