August 28, 2018
OUR TWO REPUBLICAN PARTIES:
Elizabeth Warren's Theory of Capitalism: A conversation with the Democratic senator about why she's doubling down on market competition at a moment when her party is flirting with socialism. (FRANKLIN FOER, 8/28/18, The Atlantic)
When I heard Warren speak about the crisis in capitalism, I asked to sit down with her to explore her theory of the case. I interviewed her in her Washington, D.C., office. The transcript of our conversation has been lightly edited and condensed.Franklin Foer: All the investment bankers who have voodoo dolls of you might be a bit surprised that you recently described yourself as "capitalist to the bone." What did you mean?Elizabeth Warren: I believe in markets and the benefits they can produce when they work. Markets with rules can produce enormous value. So much of the work I have done--the Consumer Financial Protection Bureau, my hearing-aid bill--are about making markets work for people, not making markets work for a handful of companies that scrape all the value off to themselves. I believe in competition.Foer: To what end?Warren: Markets create wealth. [....]Foer: But markets right now are doing a good job of producing wealth. Yes?Warren: Right.
Posted by Orrin Judd at August 28, 2018 4:44 AM