Time magazine is not wild about capitalism. In a "business roundtable" on the "future of capitalism," Time assembled several liberals to decry the idea: PBS host Tavis Smiley, blog founder Arianna Huffington, and soul singer John Legend all found the need for capitalism to have a large dose of government intervention.
Smiley was frankest: "I don't think that left to its own devices, capitalism moves along smoothly and everyone gets treated fairly in the process. Capitalism is like a child: if you want the child to grow up free and productive, somebody’s got to look over the shoulder of that child."
Time described its roundtable as a symposium on economic evolution: "With our economic world changing so rapidly, many writers and thinkers are looking at the roots of capitalism and how it must evolve. In the first of our series of Time 100 roundtables, we gathered a stellar cast of honorees to ponder the road ahead." None of them came to assert that economic liberty was a great value.
Arianna Huffington offered the familiar Greed Isn't Good attack:
It was clear among many of the founders of capitalism that there had to be a moral foundation. What happened is that capitalism was reduced to Ayn Rand-ian selfishness. We need to recapture the principle that you do well, but in the process of doing well, you give back.
Huffington also attacked the idea of a bailout: "What is fascinating is the agreement among serious economists that we're doing the wrong thing by trying to protect the Wall Street oligarchy. What's amazing is that we're not having enough of a populist outrage about that."
David Sheff, author of an "addiction memoir," not only unsurprisingly came out for "decriminalizing marijuana," he lauded the chance we have "to break apart our health-care system in ways it needs to be broken apart. Here's an opportunity to rethink the whole thing."
The closest thing to a defender of capitalism was Stephan Schuster, a molecular biologist, who simply failed to denounce it. He offered this pedestrian thought: "The system as a whole is still working. But for capitalism to have a future, it needs to survive. What are the regulatory mechanisms that will ensure that in 100 years – in 500 years – there is still a system"?
Singer John Legend also loaded up a cliche:
I believe there is a role for the government to play in evening the playing field and investing in development. We need to invest in the future and invest in the global good. Capitalism is not just a free-for-all, every man for himself.
Is this really the best Time can do, the best "stellar cast" of "writers and thinkers" that the magazine can assemble? It's certainly not a balanced cast in any political way.
—Tim Graham is Director of Media Analysis at the Media Research Center.





















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The sweet song of communism
Tue, 05/19/2009 - 07:08 ET by 10ksnookerThey never figure out what the gulags are for.
So, left on our own, we
Tue, 05/19/2009 - 07:08 ET by ThisnThatSo, left on our own, we capitalists aren't smart enough to do good.
But, the Government hires the most innovative, smartest, most productive and self-starting people in the country -- so they get to make the decisions?
I think not. These people have got it backwards, and the only reason they get to mouth off like this is because they control the msm airwaves. The goal of this country is not to provide equal outcomes. We are only created equally (except for the aborted) -- we are not pre-ordained to equal outcomes.
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The challenge is to follow a consistent plan despite inconsistent prices - Sarah Palin, State of the State of Alaska speech
Surprise Surprise
Tue, 05/19/2009 - 07:13 ET by richb313Surprise Surprise. No one mentioned that possibly the problems with capitalism might have been too much Govt. intervention.
The Founders of Capitalism!?
Tue, 05/19/2009 - 07:19 ET by freecitizenWho is Arianna referring to as the "founders of capitalism". As I see it, capitalism is simply the natural order of man since the beginning. Capitalism is what occurs without an imposed system. Each man meets his needs by trading what he has for what he doesn't.
Unlike any of the alternatives, nobody invented capitalism. Take away government or even a currency and capitalism will continue as it has since the beginning. Money and financial institutions merely make it more efficient.
Liberal: remove all that's Right, and this is what's Left.
...
Tue, 05/19/2009 - 07:27 ET by danebramageYup.
These people, in addition to being insane, are incredibly stupid. They've never devoted more than five minutes to actually thinking (much less learning) about the things they pontificate about. And a whole nation has to suffer because of it.
Liberals are the ones who
Tue, 05/19/2009 - 07:57 ET by motherbeltLiberals are the ones who are like children.
They know nothing of consequences. All they know is to say I want, it's not fair, and he's got more than me; make him share!!
I didn't think it was physically possible, but this both sucks and blows. -Bart Simpson
Amen, MB. And when
Tue, 05/19/2009 - 08:05 ET by WolfremAmen, MB. And when something does not go their way, they throw a tantrum.
"Those who do not learn from history are doomed to repeat it." - George Santayana
"So this is how liberty dies... with thunderous applause." - Padme, Star Wars 3
Capitalism
Tue, 05/19/2009 - 10:08 ET by KC MulvilleEvery other economic system focuses on the distribution of wealth, but capitalism is the system that promotes the creation of wealth as well.
Before you distribute wealth, you have to make it first. Socialism and communism fail to appreciate the need to appeal to each individual's self-interest. Why would anyone work in the first place, especially the most productive among us, if the fruits of our labor are simply going to be taken by politicians to distribute so that constituents feel indebted to the politicians, not those who actually performed the labor?
These people are insane
Tue, 05/19/2009 - 07:18 ET by danebramageSo Smiley thinks government intervention improves the productivity of capitalism? The knock against capitalism by liberals and soft socialists has always been that the benefits of the great productivity of the system are outweighed by the cost in "fairness," and that it is the unfairness that needs to be addressed by government intervention.
I've never heard anyone but a true-believing Communist argue that government intervention improves the productivity and freedom of business, and that was only before 1989.
So here we have an American idiot, raised in relative luxury by world standards, spouting crap that even Communists themselves don't believe anymore. How truly and utterly pathetic. You'd think he'd have the good sense to be embarrassed.
Smiley the Wizard of Jeopardy
Tue, 05/19/2009 - 09:41 ET by mbs6He was totally exposed several years back when he appeared on Jeopardy with Tim Russert and Christine Whitman. She absolutely mopped the board up with those two. I remember feeling *almost* sorry for how incompetent Russert and Smiley were and it taught me quite a bit about these liberals in the MSM. I would love to see a replay of that episode.
We need to recapture the
Tue, 05/19/2009 - 07:22 ET by motherbeltWe need to recapture the principle that you do well, but in the process of doing well, you give back.
This notion of "giving back" drives me nuts.
"Giving back" implies that something was "given to you" to begin with.
People who have been successful had their economic rewards "given" to them?????
I admire Bill Gates for what he gives to society. Not "gives back." Society didn't "give" him his fortune; he got it the old fashioned way: he earned it.
Singer John Legend should, in the words of Laura Ingraham,"Shut up and sing."
And I am so deathly sick of the word "populist." It's become a euphemism for government control and redistribution of wealth.
I didn't think it was physically possible, but this both sucks and blows. -Bart Simpson
I'm still trying to figure
Tue, 05/19/2009 - 07:42 ET by HockeyKidI'm still trying to figure out how the opinion of a man who's so insecure that he feels the need to change his name to "Legend" represents the best thinking in America. Guess I'm just not "hip" like Uhbama.
"Beauty is only skin deep, but liberal's to the bone." - me
Where have all the "adults" gone?
Tue, 05/19/2009 - 07:24 ET by JohnMcGrewMore mindless Marxist propoganda. Just once, I'd like to see a real capitalist on one of these discussions to ask a real question, like "What aspect of Fannie Mae/Feddie Mac or practically free money from the Federal Reserve would have Smith, Hayek, or Friedman have approved of?" Heck, I doubt there are even any Republicans who could even understand that question anymore.
The looters are in charge, and the "adults" in America are clearly on strike.
That crowd couldn't even
Tue, 05/19/2009 - 07:31 ET by HockeyKidThat crowd couldn't even spell capitalism, never mind knowing how it works.
Huffington clearly has no concept of capitalist ideas like the market value of good will or opportunity cost.
This is not surprising coming from confirmed leftists. Capitalism works on a variety of levels, but it requires an understanding of the underlying environment. When lefties throw God out of their universe, they lose the ability to understand why capitalism is the best available economic system, as well as why socialism is doomed to failure.
Their support of statism is the proof that lefties do not believe that all men are created equal. They believe that only the elites can bring peace, balance, equity, and prosperity to the world. As Orwell stated so well, they believe that "All are equal. But some are more equal than others."
"Beauty is only skin deep, but liberal's to the bone." - me
Re messing with capitalism
Tue, 05/19/2009 - 07:43 ET by slickwillie2001There's a great article here on how the US government has been messing with the real estate market since 1922. Starts with Hoover, ends with Barney. I had no idea that it has been going on for that long.
Compulsive Intervention Disorder: http://directorblue.blogspot.com
Excellent article, slick!
Tue, 05/19/2009 - 07:53 ET by motherbeltThanks for the link.
The last line says it all...
What's that definition of insanity again?
But Barney and his ilk really think that this time they can make it work, because they have the 'right' people managing it.
What hubris.
I didn't think it was physically possible, but this both sucks and blows. -Bart Simpson
Let's see how this works,
Tue, 05/19/2009 - 07:49 ET by DontFeedTheTrollsLet's see how this works, everyone go work in a soup kitchen or a homeless shelter, no doctors, no writers, no gas station attendants, no businessmen, no storeowners, no carpenters, no teachers, etc. like Obama et al are espousing and we all somehow gain?? Pure childish thinking. Really, thinking like a 7 year old.
D
Keep the ILLEGALS out, join NumbersUSA to send free faxes to your reps.
That's what I call the Star
Tue, 05/19/2009 - 08:02 ET by motherbeltThat's what I call the Star Trek, the Next Generation model.
They have "evolved" beyond the need for money. No one pays for anything; stuff just magically appears...they have and order everything they want, no money needed.
They all have "jobs" just because they want to "serve" others and have a sense of accomplishment. No pay necessary.
I didn't think it was physically possible, but this both sucks and blows. -Bart Simpson
While these same people
Tue, 05/19/2009 - 08:02 ET by RMRWhile these same people strenuously object to labelling Obama a socialist they suddenly feel the need to denounce and lead an open attack on capitalism? Curious.
I got mine
Tue, 05/19/2009 - 08:02 ET by easygoerHow many millions does Huffington have? She got most it by marrying and divorcing an oil capitalist. Now she runs a successful blog. She's got hers, the hell with everyone else. Also, I bet the semi-literate Smiley has done pretty well for himself. It's the same thing as the liberal elites from wealthy nations telling countries like Brazil and India not to use their resourses to lift their people out of crushing poverty. All so they can feel good about themselves and "save the planet". And they say they care about the poor? Spare me.
Hypocrisy Watch
Tue, 05/19/2009 - 08:16 ET by slickwillie2001If you want to talk about hypocrisy, you can start with el Presidente. He has been espousing a turn away from materialism, and urging graduates to go into public service, talking about sacrifice and doing with less, ad nauseum. But he only made that turn in philosophy after he became a multi-millionaire with a gold-plated pension plan.
Obamas Lived Way Above Their Means: http://sweetness-light.com
Sounds like winning the US Senate seat was all that saved him from foreclosure.
"She's got hers"
Tue, 05/19/2009 - 08:17 ET by general companyNow she needs to pull the ladders up behind her, so she maybe served
My Gov. thinks I am dangerous, so be careful
"Television is a freak show" Bernie Goldberg
No kidding. Give back?
Tue, 05/19/2009 - 08:28 ET by motherbeltNo kidding.
Give back? <Chris Matthews face> ..HAH!
Every one of these preachers of "giving back" should be required, up front, to provide proof of just how much the do, in fact, give to charity, or "give back" to their community.
Of course, these preachers of "giving back" believe that they are doing their part by "speaking out" which is worth so much more than money.....
I didn't think it was physically possible, but this both sucks and blows. -Bart Simpson
If capitalism is like a child...
Tue, 05/19/2009 - 08:29 ET by c5thenGovernment is like a pedophile.
Hey, I got the wrong "CHANGE"!
www.loyaltoliberty.com
Hah! That's
Tue, 05/19/2009 - 12:56 ET by freecitizenHah! That's awesome.
Liberal: remove all that's Right, and this is what's Left.
Regarding Tavis Smiley:
Tue, 05/19/2009 - 09:05 ET by fitzfongRegarding Tavis Smiley: What do expect from a race-baiting taxpayer parasite who needs copious amounts of our hard-earned money confiscated so he can have a job on a television station nobody watches? And PBS is operating so inefficiently that they'll have to conjure up yet another Mo' Tenor trio so that they can have CDs to give away at pledge drives.
Regarding Arianna Huffington: Who needs capitalism when you can have forced acquisition? Just move to the U.S., marry a rich man, turn him gay by your sheer repellence and snag most of his money in a divorce settlement. It's just that easy.
Regarding John Legend: Who the hell is John Legend?
"Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery." -Winston Churchill
Kids are not puppets on a string.
Tue, 05/19/2009 - 09:20 ET by ekslibSmiley said, "if you want the child to grow up free and productive, somebody’s got to look over the shoulder of that child."
Sure, adults can look over a child's shoulder.
But REAL parents don't spend hours forcibly moving their children's shoulders.
,,,
Tue, 05/19/2009 - 09:20 ET by EugeniaAll those idiots made it to where they are because of the capitalist system. From writing books and recording music that people bought!
Good God the irony by which these people live and fail to see is astonishing!! I guess it just comes down to irrational guilt. It's the assinine way of thinking of the left.
Oh YEEAAAHHH...
Tue, 05/19/2009 - 09:35 ET by Massage_Master07Didn't Obama make HIS MILLIONS during the "TERRIBLE" Bush years? LOL
Freedom has few friends.
Tue, 05/19/2009 - 10:03 ET by mbs6Freedom has few friends. These tyrants simply can't stand the chaos (and rewards) of freedom.
"A conservative believes in putting his money where his mouth is. A liberal believes in putting your money where his mouth is." -- mbs6
read the
Tue, 05/19/2009 - 10:18 ET by rontrue story of thanksgiving and how the early colonists tried the "socialist" form of government and how it failed. george santayana said those who forget their history are doomed to repeat it. apparently we have a short memory.
It's all a zero-sum game for these ignoramuses
Tue, 05/19/2009 - 11:52 ET by krendlerIn their muddle-minded world, there's X amount of wealth on the planet and a given person is wealthy, not because they created it or worked for it, but because they took it from someone else. That's why there's poverty. The "rich" people have simply taken more than their fair share. If they hadn't done that, the poor would have more and wouldn't be poor.
Blithering idiots.
All as our poor "Lost Generation of Recession Children", as Katie Couric puts it, sit there playing with their iPhones in front of giant flat-screen tvs.
Tell me again what kind of background Tavis and the other turds in Time's round table have in business and economics?
Big Brother versus Our Father
Tue, 05/19/2009 - 12:23 ET by lotrSo am I to understand correctly then that Smiley is advocating for Big Brother?
Perhaps I'm mistaken, but my understanding is that "Capitalism" is the economic system (based on the private ownership of capital) that results from our Constitution. The Constitution does not formally declare that "Capitalism shall be the economic system of the United States," but a free market is what results from its principles. If one does away with Capitalism, so goes the Constitution as we know it.
The problem with "today's Capitalism" is, quite simply, the loss of Faith, specifically Christianity. A (corruptible) government Big Brother "looking over our shoulder" is not what we need. What we need is recognition of that an Infinite Father is already looking over our shoulder at all times (anybody look at the Great Seal on the back of the dollar bill lately?), and at the end of time, we will have to give an accounting (pardon the economic pun) to Him.
"Let's wrap him up, alright?" -- Keith Olbermann
Capitalism, for good or evil, has made the excesses...
Tue, 05/19/2009 - 12:36 ET by ThalpyCapitalism, for good or evil, has made the excesses of the left (Tavis Smiley) possible. Capitalists should have been more attentive where Tavis is concerned.
...
Tue, 05/19/2009 - 15:45 ET by danebramageOh, bullpucky. There are no "excesses" of the left. The left (i.e. those who reason from Marxist principles) is wrong from the get-go.
There may be a need to control certain excesses of capitalists, who sometimes put profit above all other considerations and thereby endanger the common good. But that argument is properly made on other grounds than class struggle theory. Marxism has no place whatsoever in a sane world.
Playing football without your helmet again...
Wed, 05/20/2009 - 07:20 ET by ThalpyPlaying football without your helmet again? This comment was meant as a criticism of Tavis. His freedom to carp about "our" system and his economic success have been made possible by capitalism, not in spite of it.
These Fools Have Their Marching Order
Tue, 05/19/2009 - 12:44 ET by BrutariusTavis Smiley??? What the he** does he know about economics or capitalism? Nothing...oh, wait. He knows what he read in Barack Obama's favorite book Animal Spirits:
"The proper role of the parent is to set the limits so that the child does not overindulge her
animal spirits. But those limits should also allow the child the
independence to learn and to be creative. The role of the parent is to
create a happy home, which gives the child freedom but also protects him from his animal spirits."
It's a good thing these sock-puppets know which books to read.
This moron must be
Tue, 05/19/2009 - 15:56 ET by George S PattonThis moron must be equating capitalism to the inner city black child, not one who was brought up in a healthly conservative environment.
Tavis!
Tue, 05/19/2009 - 18:34 ET by blazermaniacThe only children here are Smiley & Huffington. At least they act like children.
There is even stronger
Wed, 05/20/2009 - 02:50 ET by snaggletoothieThere is even stronger evidence that PBS unchecked serves only the interests of an elitist minority. But the capitalists have always picked up the tab for PBS, while the lefty network cares only for itself and its own needs. I tend to pay more attention to people whose actions reflect their words.