Globalisation, for me, seems to be not first-order harm, and I find it very hard not to think about the billion people who have been dragged out of poverty as a result.
Angus DeatonRead
The 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.
Interpretation
What this quote means
This quote discusses how financial capitalism aims to establish control over political and economic systems globally.
Carroll Quigley's quote critiques the influence of financial capitalism, portraying it as a system designed to centralize power and control in the hands of a few—primarily through central banks. It describes a world where financial systems manipulate political frameworks and economies, emphasizing a feudal-like structure where a select group makes decisions in secrecy, shaping the dynamics of nations and the world economy.
Themes
FinancialCapitalismControlPoliticsEconomyCentral BanksPowerGlobal
In practice
Example use cases
In a discussion on global economics, one might say, 'As Carroll Quigley warned, the powers of financial capitalism create systems that dominate nations.'
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