"Capitalism is a stupid system, a backward system"

Stokely Carmichael's quote is a criticism of capitalism, a system of economics based upon personal ownership of the ways of production and the creation of products and services for profit. He believes that industrialism is a "dumb" and "backward" system, suggesting that it is dated and ineffective. He likely thinks that industrialism is unjust and exploitative, as it permits those with wealth and power to collect more wealth and power at the expenditure of those with less. He might likewise be slamming the lack of social movement and chance that capitalism produces, as those born into hardship frequently remain in hardship due to the absence of resources and chances offered to them. Eventually, Carmichael's quote is a condemnation of commercialism and its effects on society.