Wednesday, October 31, 2018

The Open Mind: George Soros on Laissez-Faire Capitalism (1997)

The Open Mind: Richard D. Heffner, host of “The Open Mind” interviews George Soros (CUNY-TV; December 4, 1997), financier and philanthropist, discussing such ideas as the role of market capitalism, also called laissez-faire capitalism, in democracies such as the United States, and that of monied interests in politics and its threat to the democratic political process, back when such ideas were keenly, earnestly and rationally discussed. Soros has long been an advocate of  the “open society,” made famous by Karl Popper’s The Open Society and Its Enemies (1945), a critique of totalitarian societies. This interview follows an article that George Soros wrote for The Atlantic, “The Capitalist Threat” (February 1997). Soros was prescient, since unfettered capitalism and its self-serving belief in the market economy has led to the situation that today we have hyper-capitalism; and with it all of its economic, social and political ills. As well, the blind acceptance and growth of financialization of the economy (Colin Gordon; Dissent; April 2014) has led to even greater economic inequality and the diminishment of opportunity. The results for western society are not positive, particularly if one values opportunity, equality and social cohesion. Speaking of which, on a social level, it seems that (almost) everything had been reduced to the acquisition of money—it being the sole measure of “success.” Better would be capitalism with a human face.
Via: Youtube

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