#174 - Is Capitalism a Blessing?

Open to Debate

Education, Society & Culture, News, Government, Politics

4.5 • 2.1K Ratings

🗓️ 29 November 2019

⏱️ 52 minutes

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Summary

Capitalism has always had its critics. But now, a new generation of political leaders, scholars, and activists are calling the free-market system into question. Has capitalism been a force for good? And should it be the economic model of the future? FOR THE MOTION: John Mackey - Co-Founder & CEO, Whole Foods Market Katherine Mangu-Ward - Editor-in-Chief, Reason AGAINST THE MOTION: Bhaskar Sunkara - Founding Editor, Jacobin Richard D. Wolff - Professor Emeritus of Economics, University of Massachusetts Amherst GETQUIP.COM/debate for your first refill free! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Mom, Apple Pie and Capitalism. That's how it has seemed for most of our lifetimes.
0:05.9	The American way has been the free market way. Free enterprise has been a keystone value of
0:11.7	how we live our lives and organize our society. And sure Capitalism has had its critics all along,
0:17.2	some of them quite ferocious, but they were always in a distinct minority. But boy, has that change
0:23.3	now with polls saying that only half the population has a clearly positive view of Capitalism these days,
0:29.9	and with serious contenders for the office of President of the United States from the Democratic
0:33.7	side, making Capitalism their rhetorical punching bag, and also the focal point of their plans to
0:40.5	overhaul American society. Given all of this, we at Intelligent Squared US thought it was time
0:46.0	to put Capitalism up for debate. So that's what we did. We brought together four people who are
0:52.1	leading thinkers in the fields of politics, economics, and some in the practice of Capitalism,
0:57.3	to our stage at the Kay Playhouse in New York City. It was a competition of ideas in three rounds
1:03.1	on one question, which we call a resolution, and it's this capitalism is a blessing.
1:10.6	Alive audience voted before the show on that resolution, and you can still cast your
1:14.7	pre-debay vote online right now at IQ2US.org. That's IQ, the number two US.org, as always, our audience
1:23.6	decides which team wins the day. Now let's get to the debate and let's meet our debaters.
1:29.7	First are doing four, the resolution, welcome John McEat.
1:35.2	John, you are the co-founder and CEO of Whole Foods Market. You are author of the best-selling book
1:41.2	Conscious Capitalism, liberating the heroic spirit of business welcome to Intelligent Squared.
1:46.3	Thanks, John. It's great to be here. And your partner, please ladies and gentlemen,
1:49.4	welcome Catherine Manguward. Catherine, you are Editor-in-Chief of Reason Magazine. We've had
1:55.6	some of your colleagues debating with us before. One of them is a three-time winner, but I won't
1:59.7	mention his name right now. You are the co-host of the Reason Podcast. You're a future tense fellow
	...

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