"Capitalism has proven to be a far more terrible system than Marx could ever bring himself to imagine. Those who are so deluded as to find something good in it, or even feel loyalty toward it, are its most pitiful victims."

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Those who see Smith as a defender of capitalism - as it existed in Marx's day, or as it exists today - show above all that they are not living in the real world. They are behaving as though the undeveloped form of capitalism Smith studied is still with us.

— Allen W. Wood