Tuesday, October 25, 2011

Capitalism - a broken system

In all of the noise about elections, OWS, flat tax, approval ratings, etc., one voice really stood out for me in the last few days. David Blood scrapped his prepared statement for a debate at St. Paul’s Cathedral in London and addressed what I think is the root of all this discord. “Capitalism itself is broken or nearly broken, ” he said addressing a group very near where protesters allied with Occupy Wall Street have gathered in London. He rightly points out that OWS is constantly attacked as anti-capitalist or as socialist or communist, but he says,  “Many of them aren’t saying that business and capitalism are inherently evil. They’re just simply saying that the way it is currently functioning is not working, it’s not right.”
I hope we hear more from David Blood on the state of capitalism and on where we should go from here. As you know, these thoughts are very much on my mind and I am heartened to see smart people talking about this. Blood founded (with Al Gore) Generation Investment Management and focuses on long-term, sustainable investments. A good example of how capitalism can work well. Read more on his speech in this Bloomberg story, Protests Show Capitalism Losing ‘License to Operate,’ Blood Says.

October 25, 2011 in capitalism , Occupy Wall Street , responsible ownership  |  0 comments  | 

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