Author: Christopher Reuenthal

Misunderstanding Capitalism

On 3 November, Jacobin magazine hosted a public debate (available here) on the merits of capitalism. Representing Jacobin, Bhaskar Sunkara and Vivek Chibber made the case for the prosecution; representing libertarian magazine Reason, Nick Gillespie and Katherine Mangu-Ward made the case for the defense. Michelle Goldberg, a columnist for the New York Times, served as moderator and opened proceedings by declaring herself persuadable by either side. To the participants’ credit, it was exciting to see people of opposing viewpoints engaging in civil debate during these tribal and polarized times. Podcast: @reason debates @jacobinmag on capitalism, socialism: @nickgillespie and @kmanguward make the case for “free minds and free markets” as the best way to improve the world https://t.co/wGhCixLPDC — reason (@reason) November 16, 2017 This debate offered an opportunity to reflect on the respective merits of capitalism and socialism (the Jacobin representatives’ preferred alternative) and lessons from the past that might help us to build a better tomorrow. It was, however, also a frustrating affair, not least because of persistent misunderstandings and misrepresentations of the subject …