Intelligence Squared debate: Is capitalism a blessing?
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Capitalism is credited with spurring economic growth and fostering human ingenuity. But there are increasing concerns about income inequality and social justice.
This hour, four experts debate the motion: “Capitalism is a blessing.”
For the motion:
John Mackey, co-founder & CEO, Whole Foods Market:
"Wealth doesn't cause poverty. Poverty is the natural default condition of the human race. Capitalism is creating wealth not for a few, but for billions of people."
Katherine Mangu-Ward, editor-in-chief, Reason:
"We are winning the battle against famine, war, pestilence and even death. That is thanks to capitalism."
Against the motion:
Bhaskar Sunkara, founding editor, Jacobin:
"Capitalism in the United States is not enabling people to reach their potential, because it's depriving them of housing, education, healthcare, and all these other core necessities of life."
Richard D. Wolff, professor emeritus of economics, University of Massachusetts-Amherst:
“Let me argue why capitalism is not a blessing. I’m going to give you four reasons: it’s unstable, unequal, undemocratic, and unsustainable ecologically.”
The Intelligence Squared debate is moderated by John Donvan.
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